Inflation has been on the rise since the beginning of the current fiscal year. Inflation is still high even after reaching the fourth month of the current fiscal year. The consumer price inflation reached 8.08 per cent in the fourth month of the current fiscal year 2022/23. The government and the Nepal Rastra Bank had set a target of keeping inflation within 7 per cent.
According to the current macroeconomic and financial situation of Nepal published by NRB on Thursday, the y-o-y consumer price inflation remained at 8.08 per cent in the fourth month of FY 2022/23 compared to 6.04 per cent a year ago. Inflation has decreased in the fourth month (mid-November) compared to the third month (mid-October) this year. The inflation rate, which had risen to 8.5 per cent in mid-October, has been limited to 8.08 per cent in mid-November.
Food and beverage inflation stood at 7.38 per cent whereas non-food and service inflation rose to 8.63 per cent in the review month. Under the food and beverage category, y-o-y price index of restaurant and hotel sub-category increased by 15.97 per cent, tobacco products by 11.81 per cent, milk products and eggs by 9.33 per cent, cereal grains and their products by 9.19 and alcoholic drinks by 8.84 per cent.
Under the non-food and services category, y-o-y price index of transportation sub-category increased by 17.71 per cent, by 11.22 per cent, recreation and culture by 8.76 per cent, housing and utilities by 8.49 per cent and furnishing and household equipment by 8.33 per cent.
In the review month, consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain remained at 7.56 per cent, 8.52 per cent, 8.03 per cent and 6.68 per cent respectively. Inflation in these regions were 6.14 per cent, 5.42 per cent, 7.14 per cent and 5.00 per cent respectively a year ago.
The y-o-y wholesale price inflation increased by 10.02 per cent in the review month compared to 6.68 per cent a year ago.The y-o-y wholesale price of consumption goods, intermediate goods and capital goods increased by 5.62 per cent, 13.49 per cent and 4.69 per cent respectively.
The wholesale price of construction materials increased by 11.89 per cent in the review month.The y-o-y salary and wage rate index increased by 11.47 per cent in the review month compared to 5.03 per cent a year ago.
In the review month, salary index and wage rate index increased by 12.39 and 11.19 per cent respectively.The y-o-y consumer price inflation in Nepal remained at 8.08 per cent in mid-November 2022. Such inflation in India stood at 5.88 per cent in November 2022. The Rising Nepal