Inflation rises to 7.76%

KATHMANDU: The year-on-year consumer price inflation remained at 7.76% in mid-April 2023, compared to 7.28% during the same period last year. While food and beverage inflation stood at 6.93%, non-food and service inflation rose to 8.42% during the review month.

According to the Current Macroeconomic and Financial Situation Report (based on the data of first nine months of Fiscal Year 2022/23 published by the Nepal Rastra Bank on Wednesday, the year-on-year price index for the restaurant and hotel sub-category increased by 14.68%, followed by spices at 14.67%, cereal grains and their products at 13.72%, fruit at 11.00%, and tobacco products at 10.83%.

Similarly, within the non-food and services category, the year-on-year price index for the health sub-category increased by 10.39%, housing and utilities by 9.54%, recreation and culture by 8.81%, furnishing and household equipment by 8.74%, and education by 8.67%.

Kathmandu Valley experienced an inflation rate of 8.57%, followed by the Terai at 7.68%, the hilly region at 7.01%, and the mountainous region at 7.47%.

The year-on-year wholesale price inflation increased by 5.59% during the review month, compared to 14.42% a year ago. The wholesale price of consumption goods, intermediate goods, and capital goods increased by 0.21%, 8.88%, and 5.18% respectively. The wholesale price of construction materials increased by 6.14%.