Consumer price inflation moderated to 4.17 pc in mid-June: NRB

KATHMANDU: The macroeconomic and financial situation report released by Nepal Rastra Bank (NRB) on Wednesday shows that year-on-year (y-o-y) consumer price inflation moderated to 4.17% in mid-June 2024, compared to 6.83% a year ago. 

Within the food and beverage category, inflation stood at 5.76%, while the non-food and services category inflation was 2.94% in 11 months starting mid-July 2023.

Under the food and beverage category, the y-o-y price index for the vegetable subcategory increased by 16.02%, pulses and legumes saw an 11.76% increase, cereal grains and their products experienced a 7.32% rise, sugar and sugar products had a 6.98% increase, and non-alcoholic drinks saw a 5.95% rise. However, the y-o-y price index for the ghee and oil sub-category decreased by 5.51%.

In the non-food and services category, the y-o-y price index for miscellaneous goods and services sub-category increased by 12.47%, education costs rose by 5.64%, and clothes and footwear prices increased by 3.46%. On the other hand, the y-o-y price index for the communication sub-category decreased by 0.48%, and transportation costs decreased by 0.18% in the review month.

Region-wise, the y-o-y consumer price inflation in Kathmandu Valley stood at 4.25%, in Tarai at 3.82%, Hill at 4.63%, and Mountain at 4.77%. These figures represent a decline from the inflation rates of 7.19%, 6.93%, 6.28%, and 6.39%, respectively, recorded a year ago.