Consumer Price Inflation remains at 8.64 percent

KATHMANDU: The year-on-year (y-o-y) consumer price inflation remained at 8.64 percent in the second month of 2022/23 compared to 3.49 percent a year ago, Nepal Rastra Bank (NRB) said.

According to the Current Macroeconomic and Financial Situation of Nepal (Based on Two Months’ Data Ending Mid-September, 2022/23) released by the central bank today, food and beverage inflation stood at 8.17 percent whereas non-food and service inflation stood at 9.02 percent in the review month.

Under the food and beverage category, the prices of fruit, ghee & oil, restaurant & hotel, alcoholic drinks and vegetable sub-categories increased by 17.29 percent, 14.53 percent, 12.30 percent, 10.24 and 9.94 percent respectively on y-o-y basis.

Under the non-food and services category, the prices of transportation, health, furnishing &household equipment, education and housing & utilities sub-categories increased by 23.41 percent, 10.54 percent, 9.25 percent, 8.11 percent and 7.69 percent respectively on y-o-y basis in the review month.

Similarly, in the review month, consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain stood at 7.62 percent, 9.33 percent, 8.82 percent and 6.68 percent respectively. Inflation in these regions was 3.23 percent, 3.65 percent, 3.96 percent and 3.51 percent respectively a year ago.

The y-o-y consumer price inflation in Nepal as of mid-September 2022/23 remained 8.64 percent. Such inflation in India stood at 7.41 percent in September 2022.

NRB said the y-o-y wholesale price inflation increased by 14.00 percent in the review month compared to 3.11 percent a year ago. The y-o-y wholesale price of consumption goods, intermediate goods and capital goods increased by 12.91 percent, 15.93 percent and 6.36 percent respectively in the review month.

The wholesale price of construction materials increased by 19.36 percent in the review month.

The y-o-y salary and wage rate index (SWRI) increased by 11.68 percent in the review month. Such a growth rate was 4.84 percent a year ago.

In the review month, salary index and wage rate index increased by 12.39 and 11.46 percent respectively.