Nepal: Inflation stands at 4.05 percent in the first four months spike in prices of vegetables and legumes

Published 2020년 12월 21일

Tridge summary

The Nepal Rastra Bank report indicates that consumer inflation for the first four months of the fiscal year was 4.05%, a decrease from the previous year's 5.76%, largely due to a significant increase in the prices of vegetables and legumes. The food and beverage inflation was 5.73%, while non-food and service inflation was 2.75%. The rise in prices was largely due to agricultural products becoming more expensive in India. In the non-food segment, costs of transportation and health service were the main contributors to the increase in prices. Inflation rates varied across different regions, with the Kathmandu Valley experiencing the lowest inflation rate at 3.39%.

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Original content

KATHMANDU, Dec 21: Consumer inflation stood at 4.05 percent in the first four months of the current fiscal year – owing to a spike in prices of vegetables and legumes in particular. According to ‘Current Macroeconomic and Financial Situation of Nepal’ released by the Nepal Rastra Bank (NRB) on Monday, the year-on-year inflation, measured in consumer price index (CPI), was moderated by 1.71 percent compared to 5.76 percent during the same period last year. While the food and beverage inflation stood at 5.73 percent, non-food and service inflation stood at 2.75 percent. The rise in the CPI has mainly been attributed to the soaring prices of vegetables and pulses. According to the NRB report, the price of vegetables rose 20.88 percent and that of pulses and legumes rose 13.70 percent. Likewise, ghee and oil were also expensive by 11.03 percent. Gunakar Bhatta, spokesperson for NRB, said the increased prices of food items were mainly due to the soaring price of agricultural products ...

Source: Nagariknetwork