Inflation continues to look up, at 10.2pc

KATHMANDU, Apr 17:

The general public continue to suffer through a continuous price rise as inflation remained at a double digit at 10.2 per cent by mid-March.

The year-on-year consumer price index inflation increased by 10.2 per cent in mid-March 2013, compared to seven per cent a year ago, according to the macroeconomic report for the eighth month of the current fiscal year published by Nepal Rastra Bank (NRB).

In the previous month, year-on-year inflation stood at 10.19 per cent.

The index of food and beverage group increased by 11.3 per cent, whereas non-food and services group increased by 9.3 per cent in mid-March. These indices had increased by 4.2 per cent and 9.4 per cent, respectively, in the corresponding month of the previous year.

Under the items of the food and beverage group, the price index of meat and fish sub-group increased by a higher rate of 17.1 percent during the review month. Likewise, the price indices of cereal grains and legume varieties increased by 12.9 per cent and 12.6 per cent, respectively, during the review month. Such indices had decreased by 2.4 per cent and 1.8 per cent, respectively, in the corresponding month of the previous year.

The monetary measures to contain inflation have also been unsuccessful as static money supply has also not been able to keep the price hike in check. The central bank has already changed the inflation forecast for the current fiscal year to 9.5 per cent during its mid-term policy review.

Source: THT