Inflation hits consumers hard, price of oil, vegetables, milk products goes soaring

KATHMANDU: The economic crisis has its toll on price inflation of goods and services. Consumer price inflation more than doubled to reach 7.14 per cent in the eighth month (mid-March) of Fiscal Year 2021/22 compared to 3.03 per cent a year ago, according to the Current Macroeconomic and Financial Situation report of the Nepal Rastra Bank (NRB).

Food and beverage inflation stood at 7.51 per cent whereas non-food and service inflation stood at 6.84 per cent in mid-March. In mid-April 2021, food and beverage inflation was 3.80 per cent and non-food and service inflation stood at 2.42 per cent.

Price of ghee and oil went up by 26.34 per cent, vegetable by 13.96 per cent, milk products and eggs by 11.30 per cent, and pulses and legumes rose by 10.30 per cent on year-on-year basis.
Likewise, under the non-food and services category, the prices of transportation, miscellaneous goods and services and education sub-categories rose by 16.27 per cent, 9.01 per cent and 8.79 per cent respectively.

In the review month, hill area experienced the highest inflation of 7.69 per cent. The Kathmandu Valley, Terai and Mountain witnessed inflation of 6.31 per cent, 7.36 per cent and 7.56 per cent respectively. Inflation in these regions was 2.50 per cent, 3.25 per cent, 3.40 per cent and 1.31 per cent respectively in mid-March 2021.

Fiscal Nepal |
Wednesday April 13, 2022, 12:33:46 PM |

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