Consumer price inflation eases to 3.62 pc in mid-March 2026: NRB
KATHMANDU: Nepal Rastra Bank (NRB) on Thursday released its latest macroeconomic and financial situation report, revealing that year-on-year consumer price inflation moderated to 3.62% in mid-March 2026, down from 3.75% in the same period a year earlier.
The report, based on eight months’ data from fiscal year 2025/26, shows average inflation for the review period at 2.13%, compared with 4.72% a year ago.
During the review month, food and beverage inflation was recorded at 3.60%, while non-food and services inflation reached 3.63%. In the corresponding period last year, these categories rose by 3.34% and 3.97%, respectively.
Within the food and beverage category, the price index for vegetables rose by 11.49%, ghee and oil by 9.86%, and fruit by 9.63%. Prices for pulses and legumes fell by 3.66%, cereal grains and their products by 2.18%, and spices by 2.03%.
In the non-food and services category, miscellaneous goods and services experienced a sharp rise of 22.81%. Other increases were recorded in education (7.46%), alcoholic drinks (4.77%), clothes and footwear (4.73%) and tobacco products (3.57%). The insurance and financial services sub-category saw a slight decrease of 0.03%.
The report highlights geographical disparities, with urban areas experiencing 3.82% inflation compared with 3.06% in rural areas. Regionally, Terai recorded the highest inflation at 4.11%, followed by Kathmandu Valley at 3.64%, Hill region at 3.11%, and Mountain region at 2.83%.
At the provincial level, Madhesh Province recorded the highest inflation at 4.95%. Lumbini Province followed with 4.21%, Koshi Province at 3.96%, Bagmati at 3.31%, Gandaki at 2.87%, while Sudurpashchim and Karnali provinces recorded lower rates of 2.25% and 2.21%, respectively.
Likewise, year-on-year wholesale price inflation stood at 3.64% in mid-March 2026, compared with 4.43% a year earlier. Wholesale prices for consumption goods decreased by 4.44%, while intermediate and capital goods increased by 8.54% and 3.51%, respectively. Construction material prices rose by 0.21%.
A regional comparison shows Nepal’s consumer price inflation of 3.62% in mid-March remains higher than India’s, where consumer price inflation was 3.21% in February 2026.
