Nepali inflation increases 14.5 pct: Central Bank
The rate of inflation in Nepal rose to 14.5 percent in mid November 2008 from 6.3 percent in the corresponding period of the pervious year, The Rising Nepal reported on Friday.
The year-on-year inflation as calculated by the consumer price index was driven both by the significant rise in food and beverages as well as non-food and services group, the newspaper said.
According to first four month data of the Nepal Rastra Bank, the central bank of the country, last year's price rise on food and beverages and non-food and services group was 8.4 percent and 4.1 percent respectively, Xinhua reported
Of the items in the food and beverages group, price indices of sugar and sugar related products as well as oil and ghee sub- groups increased on a year-on-year basis in mid-November 2008, by a whopping rate of 37.6 percent and 31.6 percent respectively.
This was in sharp contrast to previous' increase by a change of 18.0 percent and 14.8 percent respectively. The subgroup of grains and cereal products witnessed a year-on-year price rise of 19.1 percent in the review period compared to an increase of 11.4 percent in the corresponding period of previous year.
Prices of rice and rice products of this sub-group increased with a higher rate of 22.3 percent compared to an increase of 13.0 percent a year ago.
Within the group of non-food and services, the index of transport and communication, housing goods and services as well as tobacco and related products rose by 22.0 percent, 15.2 percent and 15.1 percent respectively in mid-November 2008.
In the previous year, the index of transportation and communication remained constant whereas the indices of housing goods and services and tobacco and related products had increased by 5.4 percent and 7.5 percent respectively during the same period of last year.
Of agricultural commodities, the price index of pulses and livestock production increased by 24.9 percent and 22.2 percent respectively in the review period compared to a rise of 11.2 percent and 4.6 percent a year ago.