KATHMANDU, June 11: The consumer price inflation during the one-month period from mid-April to mid-May hit 7.87 percent, more than double of 3.65 percent of the same period of the last fiscal year.
According to a 10-month report on ‘Current Macroeconomic and Financial Situation of Nepal’ unveiled by Nepal Rastra Bank (NRB) on Friday, the soaring consumer price was due to a notable increase in the prices of overall food and non-food items and services. The report shows that food and beverage inflation stood at 7.13 percent whereas the consumer price index of non-food and service rose by 8.45 percent.
People hit hard as consumer price inflation soared 8.64 percent...
Recently, traders have hiked market prices of most of the goods, notably in the pretext of the disruption in supply chain caused by ongoing war between Russia and Ukraine. In addition, the soaring prices of petroleum products have also contributed to the rising consumer price inflation in Nepal.
According to the NRB report, the prices of ghee and oil increased by 24.86 percent, fruits by 12.61 percent, milk products and eggs by 11.30 percent and pulses and legumes by 10.53 percent. Likewise, under the non-food and services category, the prices of transportation, education, and recreation and culture sub-categories rose by 21.81 percent, 11.64 percent and 8.21 percent, respectively.
During the last month, the mountain region witnessed a price hike of 8.21 percent, the largest of all. Price inflation in Terai was recorded at 8.15 percent while those in the hilly region and the Kathmandu Valley were 7.89 percent and 8.15 percent, respectively.
