Y-o-Y consumer price inflation increases over 1 percent in seven months

The country has witnessed the year-on-year consumer price inflation at 7.88 percent until mid-February of the current fiscal year, 2022/23. The price inflation is an over one percent increment as compared to the 6.24 percent during the same period in the previous FY. It may be noted that the government has set a goal of maintaining the inflation not exceeding 7 percent throughout the current FY.

According to a report on the current macroeconomic and financial situation of Nepal (Based on seven months’ data ending mid-February, 2022/23) made public here today by the Nepal Rastra Bank, food and beverage inflation reached 6.19 percent while non-food and service inflation 9.22 percent. Similarly, under the food and beverage category, the year-on-year price index of restaurant and hotel subcategory surged 15.24 percent, cereal grains and their produces 12.39, tobacco products 10.83, alcoholic drinks 8.78, and spices 8.04.

Under the non-food and services category, transportation subcategory increased 15.58 percent, health 10.39, housing and utilities 9.78, furnishing and household equipment 9.00 and recreation and culture 8.81. In the review month, the Kathmandu Valley reported 8.47 percent consumer price inflation, Tarai 7.82, Hill 7.30 and Mountain 7.92. Inflation in these regions stood 5.47 percent, 6.50 percent, 6.71 percent and 5.97 percent respectively during the same period in the previous FY.