Inflation stands at 14-year low

August 22: The inflation rate of the country for the last fiscal year has been recorded at 4.2 percent, which is the lowest in the last 14 years, according to the Nepal Rastra Bank (NRB).

The central bank made such revelation in a report entitled ‘Current Macroeconomic and Financial Situation of Nepal (Based on Annual Data of 2017/18)’ released on Tuesday. The report states that inflation calculated in consumer price index (CPI) stood at 4.2 percent in the Fiscal Year 2017/18.

The annual inflation rate stood at 4 percent in the Fiscal Year 2003/04. Since then, the inflation rate has been on the rise. The announcement is in stark contrast to the prediction of the central bank, which had projected inflation rate to stand at 7 percent in the last fiscal year.

The annual inflation rate stood at 4.5 percent in the Fiscal Year 2016/17 while it was almost 10 percent in the previous year.

The annual inflation rate hit double digits in the Fiscal Year 2008/09 at 12.6 percent.