Inflation Surges to 7.5% in Mid-September to Mid-October

Inflation in the month of mid-September to mid-October has spiked to 7.5 percent, marking a noticeable increase from the 8.5 percent recorded during the same period last year, according to the latest report from the Nepal Rastra Bank (NRB).

During the first three months of the current financial year, the cost of food and beverages witnessed a significant uptick of 8.38 percent, while non-food items experienced a 6.81 percent increase, the NRB’s economic and financial status report revealed.

One of the most remarkable highlights in the report is the substantial spike of 37.63 percent in the price of marmalade. Consumers may face increased costs for this popular spread, impacting household budgets.

Furthermore, sugar and sugar products saw an 18.22 percent increase, while fruits and dairy products registered hikes of 14.02 percent and 11.92 percent, respectively, according to the NRB’s latest economic analysis.

Contrastingly, a notable exception in the current economic landscape is the price of ghee oil, which witnessed a substantial decrease of 61 percent in the review month. This unexpected drop may bring relief to consumers amidst the broader inflationary trends.

The NRB’s comprehensive economic and financial status report provides insights into the shifting dynamics of prices across various sectors, shedding light on the challenges and opportunities in the current economic climate. Analysts are closely monitoring these developments for potential implications on the overall economic stability.