August 17: The year-on-year consumer price inflation stood at 8.08 percent in mid-July 2022 compared to 4.19 percent a year ago. According to Nepal Rastra Bank, global rise in fuel and food prices, supply chain disruptions and devaluation of Nepalese currency with US dollar contributed to build up inflationary pressures during the second half of Fiscal Year 2021/22.
However, due to low level of inflation during initial months, the annual average consumer price inflation remained at 6.32 percent during the last fiscal year compared to 3.60 percent in FY 2020/2021, states the Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday.
According to the report, the prices of ghee and oil, pulses and legumes, tobacco products and alcoholic drinks sub-categories rose by 26.13 percent, 9.92 percent, 9.84 percent and 8.57 percent respectively on annual basis under the Food and Beverage category.
Likewise, under the non-food and services category, the prices of transportation, education, furnishing and household equipment and recreation and culture sub-categories rose by 15.82 percent, 8.78 percent, 7.09 percent and 6.68 percent respectively on annual basis.
The annual average food and beverage inflation stood at 5.69 percent in FY 2021/22 compared to 5.00 percent a year ago. The y-o-y food and beverage inflation stood at 6.89 percent in mid-July 2022 compared to 5.81 percent a year ago.
Similarly, the annual average non-food and services inflation stood at 6.83 percent in FY 2021/22 compared to 2.51 percent a year ago. The y-o-y non-food and services inflation stood at 9.03 percent in mid-July 2022 compared to 2.94 percent a year ago.