Kathmandu, Oct 18: The inflation based on Consumer Price Index on the year-on-year basis has reached 8.19 percent until September 17, states the Current Macroeconomic and Financial Situation Report unveiled by Nepal Rastra Bank (NRB).
The government has aimed to contain the inflation within the limit of 6.5 percent in the current fiscal year. As per the NRB data until September 17, the inflation in the price of spices is 45.46 percent. Similarly, the inflation of sugar and sugar-based goods has increased by 17.86 percent, of vegetables by 14.51 percent, of food and foodstuffs by 13.38 percent and of dairy products and egg by 12.60 percent.
The y-o-y price index of ghee & oil sub-category decreased 13.08 percent in the review period. Under the non-food and services category, y-o-y price index of recreation & culture sub-category increased 15.55 percent, of miscellaneous goods and services sub-category 12.21 percent, of education 9.10 percent, housing & utilities 8.11 percent and furnishing & household equipment 6.59 percent while y-o-y price index of transportation sub-category decreased 0.18 percent.
In the review period, y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain region is 9.83 percent, 7.03 percent, 8.09 percent and 11.32 percent respectively.
Remittance inflow Rs 228 billion in two months
Nepal has received remittance of Rs 228 billion in the first two months of the current Fiscal Year 2023/24.
According to the country’s Current Economic and Financial Situation Report based on the statistics until the 17th of September, 2023, unveiled by Nepal Rastra Bank today, the remittance inflow increased by 22.1 percent in this period and reached Rs 228 billion and 370 million.
The remittance inflow during the corresponding period last year had increased by 19.8 percent. In US dollars terms, the remittance inflow grew by 17.7 percent to reach 1 billion 730 million US dollars.
The number of Nepalis taking labour permit for foreign employment until September 17, 2023 of the current fiscal year beginning July 17 has decreased by 28.3 percent and remained 74,455.
Similarly, the number of Nepalis renewing their work permit for foreign employment was 32,004, a decrease of 18.3 percent. In the previous fiscal year, this number had increased by 70.6 percent, the NRB stated in the report.
