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Inflation Significant In First Five Months: NRB

KATHMANDU: The year-on year (y-o-y) consumer price inflation increased significantly in the first five months of the current fiscal year.

The y-o-y inflation stood at 6.55 per cent in mid-December 2019 compared to 3.71 per cent a year ago, according to a macroeconomic and financial report of Nepal Rastra Bank (NRB).

Food and beverage inflation stood at 9.76 per cent whereas non-food and service sector inflation stood at 4.10 per cent in the review period.

Within the food and beverage group, prices of vegetables, spices, fruits and pulses and legumes sub-groups rose significantly in the review period, the report said.

Likewise, within the non-food and service group, the prices of education, clothes and footwear and furnishing and household equipment sub-groups rose moderately in the review period.

In the review period, the Kathmandu Valley witnessed 7.60 per cent inflation followed by 6.66 per cent in the Terai, 5.27 per cent in the Hill and 4.83 per cent in the Mountain.

These regions had witnessed 3.68 per cent, 3.65 per cent, 3.84 per cent and 4.05 per cent inflation respectively a year ago.

The y-o-y consumer price inflation in Nepal in the review period and in India (December 2019) stood at 6.55 per cent and 7.35 per cent respectively.

The y-o-y wholesale price inflation stood at 8.98 per cent in the review period compared to 7.18 per cent a year ago.

In the review period, price of food under primary group and prices of food, beverage and tobacco and leather and leather products under manufactured groups rose significantly.

Based on broad economic classification, prices of consumption goods, intermediate goods and capital goods increased by 20.44 per cent, 3.92 per cent and 2.34 per cent respectively.

However, the wholesale price of construction materials dropped by 5.16 per cent in the review period.

The y-o-y salary and wage rate index increased by 10.04 per cent in the review period compared to 9.30 per cent a year ago.

In the review period, salary index and wage rate index increased by 13.56 per cent and 9.06 per cent respectively.

Published Date: Sunday, January 19th, 2020 | 08:01 AM

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