Inflation Doubles Amid Rising Prices

According to Nepal Rastra Bank, the annual consumer inflation in the month of Jestha has reached 5.22 percent. Compared to the same month last year, inflation has nearly doubled this year. Koshi Province recorded the highest inflation at 5.75 percent, while Sudurpaschim Province showed the lowest at 4.61 percent. Kathmandu, 29th Asar.

This year, inflation in the month of Jestha has nearly doubled compared to the previous year. The Economic and Financial Situation Report released by Nepal Rastra Bank on Monday states that annual consumer inflation for Jestha stood at 5.22 percent, whereas it was only 2.72 percent during the same month last year. However, the average inflation for the 11 months of the fiscal year 2082/83 remains limited at 2.89 percent.

During the reviewed month, inflation in the non-food and service group was higher compared to the food and beverage group. According to the central bank, inflation for the food and beverage group was 4.95 percent, while the non-food and service group inflation reached 5.37 percent. Last year, these groups witnessed inflation rates of just 0.54 and 3.94 percent respectively.

Significant price increases were observed in kitchen supplies and transportation. In Jestha, prices of fruits and cooking oil used by consumers rose considerably. Statistics show that the price of the fruit subgroup increased by 17.40 percent and that of ghee and oil rose by 15.10 percent. Various goods and services within the non-food category increased by 16.68 percent, while transportation costs went up by 15.31 percent.