Consumer Price Inflation Moderates to 3.57 Percent in mid-July

The year-on-year (y-o-y) consumer price inflation stood at 3.57 percent in mid-July 2024 compared to 7.44 percent a year ago, the central bank said in its latest report.

According to the Current Macroeconomic and Financial Situation Report released by the Nepal Rastra Bank on Sunday, the annual average consumer price inflation stood at 5.44 percent in FY 2023/24 compared to 7.74 percent a year ago.

Under the food and beverage category, the annual average consumer price index of spices sub-category increased 26.40 percent, pulses and legumes 9.96 percent, sugar and sugar products 9.87 percent, cereal grains and their products 9.85 percent and vegetable 8.29 percent. The annual average consumer price index of ghee and oil sub-category decreased 10.99 percent, states the report.

Likewise, under the non-food and services category, the annual average consumer price index of miscellaneous goods and services subcategory increased 11.38 percent, recreation and culture 10.96 percent, education 7.73 percent, furnishing and household equipment 4.75 percent and clothes and footwear 4.56 percent. On the other hand, the annual average consumer price index of transportation sub-category decreased 0.82 percent.

According to the central bank, the annual average food and beverage category inflation stood at 6.47 percent in FY 2023/24 compared to 6.62 percent a year ago.

Similarly, the y-o-y food and beverage category inflation stood at 4.10 percent in mid-July 2024 compared to 7.38 percent a year ago.

The annual average non-food and services category inflation stood at 4.64 percent in FY 2023/24 compared to 8.62 percent a year ago while the y-o-y non-food and services category inflation stood at 3.15 percent in mid-July 2024 compared to 7.48 percent a year ago.