Inflation moderates to 4.82%

KATHMANDU: Consumer price inflation eased to 4.82% in mid-October 2024, a significant drop from 7.50% recorded a year ago. It, however, increased compared to mid-September when inflation was recorded at 3.85%.

According to the Current Macroeconomic Situation Report published by the Nepal Rastra Bank (NRB) on Tuesday, food and beverage inflation stood at 7.18%, driven by sharp increases in the prices of vegetables (25.15%), pulses and legumes (10%), and cereal grains (9.57%). However, the prices of meat and fish (-1.18%), spices (-0.79%), and sugar (-0.78%) declined.

Similarly, non-food and service inflation stood at 3.49% in mid-October, with notable rises in miscellaneous goods (10.49%), alcoholic drinks (6.32%), and clothes and footwear (6.12%).

Province-wise, the highest inflation was recorded in Sudurpashchim Province (6.56%), while Karnali Province had the lowest inflation at 3.25%. In terms of geography, inflation was higher in rural areas (5.00%) than in urban areas (4.76%).

The Kathmandu Valley registered an inflation rate of 4.50%, while the Tarai, hills, and mountainours regions experienced inflation of 5.23%, 4.32%, and 5.08%, respectively.