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

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 ...