Mid-August saw Inflation rate of 6.9%

Kathmandu October 4- According to Nepal Rastra Bank's quarterly report on Macroeconomic situation of Nepal, the y-o-y inflation as measured by the consumer price index (CPI) increased by 6.9 percent in mid-August 2015 compared to 7.5 percent in the corresponding period of the previous year.

According to the fifth Household budget survey with updated basket of goods and services, consumers price index inflation rate dropped in  mid August in compare with last year. The indices of food and beverage group and non-food and services group increased by 7.3 percent and 6.6 percent respectively during the review period.

 Similarly, the y-o-y wholesale price index increased by 5.4 percent during the review period compared to a rise of 7.4 percent in the corresponding period of the previous year.

The total exports decreased due to the fall in exports to India, China and other countries. Merchandise exports fell further 3.9 percent to Rs. 6.46 billion in the first month of 2015/16. Such exports had dropped by 11.5percent to Rs. 6.72 billion in the same period of the previous year.

The services receipts fell on account of the devastating earthquake of April 25, 2015, which caused massive loss in tourism including other service sectors. The gross services receipts in the review period decreased by 16 percent to Rs. 9.70 billion which had increased by 29.8 percent in the same period of the previous year.

The overall BOP showed a surplus of Rs. 4.95 billion in the review period compared to a surplus of Rs. 2.77 billion in the same period of the previous year. In US dollar terms, the BOP recorded a surplus of USD 48.4 million compared to USD 28.6 million in the same period of the previous year.