January 18: Nepal Rastra Bank has said that the consumer price inflation stood at 3.7 percent in mid-December 2018 compared to 4.2 percent a year ago.

Releasing a report on the current macroeconomic and financial situation of Nepal on Thursday, the central bank said that the country saw a moderate inflation during the review period due to marginal increase in the price of food and beverage group.

According to the report based on five months of the current fiscal year, food and beverage inflation moderated to 0.5 percent in mid-December 2018 compared to 2.8 percent a year ago while the non-food and service inflation stood at 6.3 percent in mid-December 2018 compared to 5.3 percent a year ago.

Likewise, the salary and wage rate index increased 9.3 percent in mid-December 2018 from 6.1 percent a year ago. In the review period, the salary index and the wage rate index increased 6.6 percent and 10.1 percent respectively.

 The country’s export in five months of 2018/19 increased 11.2 percent to Rs 37.50 billion compared to an increase of 10.1 percent a year ago, the report further said. Destination-wise, exports to India and other countries increased 20.7 percent and 3 percent respectively, whereas exports to China decreased 30.7 percent. Mainly exports of polyester yarn, zinc sheet, woolen carpet, pulses, readymade garments, pashmina, jute goods, among others, increased, whereas exports of cardamom, rosin, tanned skin, shoes and sandals, among others, decreased in the review period.

In the review period, the central bank said that the country’s merchandise imports increased 34.2 percent to Rs 607 billion compared to an increase of 18.2 percent a year ago. Destination-wise, imports from India, China and other countries increased 31.7 percent, 47.7 percent and 33.7 percent respectively. Commodity-wise, imports of petroleum products, vehicle and spare parts, aircraft spare parts, MS billet, machinery and parts, vegetables, fruits and rice, among others, increased whereas imports of telecommunication equipment and parts, crude soybean oil, cement, medical equipment and tools, among others, decreased in the review period.