The consumer price inflation moderated in the eleventh month of the current fiscal year.
According to the Current Macroeconomic and Financial Situation Report of Nepal (based on 11 months’ data ending mid-June, 2023) released by the Nepal Rastra Bank (NRB) on Monday, the year-on-year consumer price inflation moderated at 6.83 percent in mid-June, compared to 7.41 percent in the previous month. During the same period last year, the inflation was 8.56 percent.
In the review month, food and beverage inflation stood at 5.66 percent whereas non-food and service inflation rose to 7.76 percent. Under the food and beverage category, price index of spices sub-category increased 35.29 percent, restaurant and hotel 14.36 percent, cereal grains and their products 13.06 percent, milk products and eggs 10.98 percent and tobacco products 8.49 percent. The price index of ghee and oil sub-category decreased 16.60 percent.
Under the non-food and services category, the year-on-year price index of recreation and culture sub-category increased 15.75 percent, education 10.56 percent, miscellaneous goods and services 9.33 percent, housing and utilities 8.41 percent and furnishing and household equipment 7.83 percent.
In the review month, consumer price inflation in the Kathmandu Valley surged 7.19 percent, down from 8.32 percent a year ago. Inflation in Terai, declined to 6.93 percent from 8.29 percent and in hill, it declined to 6.28 percent from 9.28 percent. Likewise, in the mountains, the consumer price index stood 6.39 percent, which was less than 8.92 percent in the same period last year.
