On the back of risen prices in the food and beverages, the year-on-year consumer inflation stood at 8.9 percent in mid-April 2008 compared to 5.6 percent in the corresponding period last year, said a statistic of Nepal Rastra Bank (NRB).
According to the statistic of NRB based on the first nine months' data of fiscal year 2007/08, the inflation was mainly driven by the significant rise of 12.6 percent in prices of food and beverages in the review period. The price rise of food and beverages was 7.9 percent last year.
Of the items in the index of food and beverages group, the prices of oil and ghee, grains and cereal product and pulses increased by double digit. The price indices of oil and ghee sub-group increased by a whopping rate of 33.8 percent on year-on-year basis. The sub-group of grains and cereal products witnessed a year-on-year price rise of 19.7 percent in mid-April 2008 compared to 8.7 percent a year ago. Prices of rice and rice product of this sub-group increased by 25 percent compared to 4.9 percent in previous year. The price rise of pulse stood at 14.9 percent on year-on-year basis in mid-April 2008 compared to a rise of 17.2 percent in mid-April 2007.
The index of non-food and services group rose by 4.9 percent in mid-April 2008 compared to a rise of 3.2 percent last year, said the report. In mid-April 2008, the year-on-year core inflation went up to 7.0 percent from 6.6 percent a year ago.
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