Consumer price inflation remains at 4.95 pc in mid-Dec: NRB

KATHMANDU: The consumer price inflation moderated to 4.95% in mid-December 2023 compared to 7.38% a year ago, according to the macroeconomic and financial situation report released by Nepal Rastra Bank (NRB) on Thursday.

Food and beverage category inflation stood at 5.10% while non-food and service category inflation stood at 4.84% in the review month.

Moderating y-o-y prices of commodities under ghee and oil, vegetables and meat and fish sub-categories coupled with two downward adjustments of petroleum product prices by Nepal Oil Corporation and decline in prices of vegetables, fruits, spices and sugar compared to the previous month contributed to the subdued inflationary pressure in the review month.

During the review month, the y-o-y import price index declined by 3.3%. This was accompanied by moderating growth rates in both the salary and wage rate index and the wholesale price index which also contributed to a decline in consumer price inflation.

Under the Food and Beverage Category, y-o-y price index of ghee and oil, vegetable and meat & fish sub-category decreased 13.66%, 8.37% and 0.13% respectively in the review month.

The y-o-y price index of spices sub-category increased 37.22%, fruit 13.37%, sugar and sugar products 13.24%, cereal grains and their products 11.30%, milk products & eggs 10.59% and pulses & legumes 10.56%.

Under the Non-Food and Services Category, y-o-yprice index of transportation sub-category decreased 2.48% in the review month.

The y-o-y price index of recreation & culture subcategory increased 12.84%, miscellaneous goods & services 11.03%, education 8.92%, furnishing & household equipment 5.24% and clothes & footwear 4.96%.

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