November 11:: The price index of spices increased by a staggering 37.63 percent followed by the rice in prices of sugar and sugar products by 18.22 percent within a span of one month between mid-September to mid-October although the overall consumer price inflation stood at 7.50 percent during the review month.
According to the Current Macroeconomic and Financial Situation Report of Nepal published by Nepal Rastra Bank on Friday, the year-on-year (y-o-y) consumer price inflation stood at 7.50 percent in mid-October 2023 compared to 8.50 percent a year ago.
However, food and beverage inflation was above average at 8.38 percent thanks to the surge in price of sugar due to its shortage during the festive season whereas non-food and service category inflation stood at 6.81 percent in the review month.
Under the Food and Beverage category, y-o-y consumer price index of fruit increased 14.02 percent, cereal grains and their products 12.23 percent and milk products and eggs 11.92 percent. The y-o-y consumer price index of ghee and oil subcategory decreased 11.61 percent in the review month, added the NRB report.
Under the non-Food and Services category, y-o-y consumer price index of recreation and culture subcategory increased 15.55 percent, miscellaneous goods and services 12.11 percent, education 9.10 percent, housing and utilities 8.08 percent and furnishing and household equipment 6.25 percent. The y-o-y consumer price index of transportation sub-category decreased 1.62 percent in the review month due to the decline in fuel prices.
In the review month, y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain region surged to 10.23 percent, 5.66 percent, 7.38 percent and 10.24 percent respectively. Inflation in these regions stood at 6.93 percent, 9.42 percent, 8.84 percent and 7.07 percent respectively a year ago.