Consumer price inflation rises to 5.60 pc in mid-Nov: NRB

KATHMANDU: Year-on-year consumer price inflation in Nepal stood at 5.60% in mid-November 2024, compared to 5.38% a year ago, according to the latest macroeconomic and financial situation report released by Nepal Rastra Bank (NRB) on Thursday.

Food and beverage inflation was recorded at 9.10%, while non-food and service inflation stood at 3.65% during the first four months of the current fiscal year 2024/25. In comparison, the price indices for these groups had risen by 5.98% and 4.99% respectively during the same period of the previous fiscal year.

Within the food and beverage category, the year-on-year price index for the vegetables sub-category increased by 33.99%, pulses and legumes by 10.78%, cereal grains and their products by 10.15%, and ghee and oil by 9.29%. However, the year-on-year price index of the spices sub-category decreased by 1.41%, sugar and sugar products by 1.28%, and meat and fish by 0.02%.

In the non-food and services category, the year-on-year price index for miscellaneous goods and services increased by 10.41%, alcoholic drinks by 6.35%, clothes and footwear by 4.57%, and tobacco products by 4.24%.

The year-on-year price index for rural areas and urban areas increased by 6.19% and 5.39% respectively.

By province, the year-on-year consumer price inflation until mid-November in the current fiscal year in Koshi was 7.19%, Madhesh 5.72%, Bagmati 5.35%, Gandaki 4.69%, Lumbini 5.10%, Karnali 3.21%, and Sudurpashchim 6.57%.

In the review month, the year-on-year consumer price inflation in Kathmandu Valley, Tarai, Hill, and Mountain regions surged to 5.42%, 5.72%, 5.15%, and 6.78% respectively.