Inflation stood at 8.7 percent

Kathmandu, June 16 – The year-on-year Consumer Price Index (CPI) inflation stood at 8.7 percent in mid-May, the tenth month of the current fiscal year 2013-14, while it was at 9.5 percent in the previous month.

According to the latest macroeconomic situation published by Nepal Rastra Bank (NRB), the index of food and beverage group increased by 8.7 percent, whereas index of non-food and services group increased by 8.6 percent in mid-May 2013. These indices had increased by 7.1 percent and 10.1 percent respectively in the corresponding month of the previous year.

Region-wise, the price indices increased by 9.4 percent in Kathmandu valley followed by 8.7 percent in Terai and 7.8 percent in Hills in the review month while the same recorded an increments by 7.7 percent, 9.0 percent and 9.4 percent respectively in the corresponding month of the previous year.

The year-on-year wholesale price index increased by 8.1 percent during the review month compared to a rise of 8.0 percent in the corresponding month of the previous year.

The wholesale price indices of agriculture commodities, imported commodities and domestic manufactured commodities have risen by 11.1 percent, 5.1 percent and 4.6 percent respectively while such indices had increased by 5.5 percent, 13.7 percent and 6.7 percent respectively in the same month of the previous year, said the central bank.