Consumer price inflation moderated to 5 pc in mid-Feb: NRB

KATHMANDU: The macroeconomic and financial situation report released by Nepal Rastra Bank (NRB) on Sunday shows that consumer price inflation moderated to 5.0% in mid-February 2024, a significant decrease from 7.88% recorded the previous year.

The inflation rate for food and beverages was reported at 6.51%, while the non-food and service category saw a lower inflation rate of 3.85% during the review period.

Under the Food and Beverage Category, y-o-y price index of spices sub-category increased 32.11%; pulses and legumes 11.15%; milk products and eggs 10.78%; cereal grains and their products 9.06%; and vegetable 7.58% in the review month.

The y-o-y price index of ghee and oil subcategory decreased 12.33% in the review month.

Under the Non-Food and Services Category, the year-on-year price index for the recreation and culture sub-category jumped by 12.61%, miscellaneous goods and services increased by 9.15%, and education costs rose by 7.31%. Conversely, the transportation sub-category saw a decrease of 1.41%.

Regionally, the year-on-year consumer price inflation rates for the Kathmandu Valley, Tarai, Hill, and Mountain regions were 4.96%, 4.71%, 5.58%, and 5.44% respectively. These figures represent a decrease from the previous year's rates of 8.47%, 7.82%, 7.30%, and 7.92% respectively.