Inflation to remain 8 percent
KATHMANDU: Rate of inflation in the current fiscal year is estimated to remain 8 percent, shows an economic survey. According to the Economic Survey 2011-12 unveiled by Finance Minister Barshaman Pun at the Finance Ministry today, the country is expected to witness inflation rate by 8 percent in the current fiscal year.
Inflation rate in the last nine months of the current fiscal was 7 percent and it was over 7.5 in the remaining three months.
Speaking on the occasion, Nepal Rastra Bank Governor Dr Yuvraj Khatiwada said the inflation rate in the current fiscal year is estimated to reach 8 percent in an average, following an increase in supply and transportation cost.
According to Dr Khatiwada, price rise could be controlled only if investment in the productive sector was increased with the management of loan disbursement policy.
The Survey estimates that economic growth rate at base price will remain 4.56 percent and at production cost will be 4.63 percent.
The Ministry has claimed price rise in foodstuffs was controlled in some point in the current fiscal year as compared to the last year. This year, Price rise in food stuffs was 4.2 percent and non-food items was 9.4 percent against 17.3 percent and 5.4 percent in the last fiscal year, respectively. RSS