Consumer Price Inflation Rises to 7.88 Percent: NRB

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Consumer Price Inflation Rises to 7.88 Percent: NRB

March 12: The year-on-year (y-o-y) consumer price inflation increased to 7.88 percent in mid-February 2023 compared to 6.24 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).

The Current Macroeconomic and Financial Situation Report released by NRB on Sunday revealed that food and beverage inflation stood at 6.19 percent whereas non-food and service inflation rose to 9.22 percent in the review month.

Under the food and beverage category, y-o-y price index of restaurant and hotel subcategory increased 15.24 percent, cereal grains and their products 12.39 percent, tobacco products 10.83 percent, alcoholic drinks 8.78 percent, and spices 8.04 percent

Under the non-food and services category, y-o-y price index of transportation subcategory increased 15.58 percent, health 10.39 percent, housing and utilities 9.78 percent, furnishing and household equipment 9.00 percent and recreation and culture 8.81 percent.

In the review month, consumer price inflation in the Kathmandu Valley increased the most at 8.47 percent compared to Terai, hills and the mountains where CPI was recorded at 7.82 percent, 7.30 percent and 7.92 percent respectively. Inflation in these regions were 5.47 percent, 6.50 percent, 6.71 percent and 5.97 percent respectively a year ago, the central bank’s report added.

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