In a recent report released by the Nepal Rastra Bank, the nation’s annual consumer inflation rate has maintained stability, showcasing a promising shift from previous figures. From mid-December 2023 to mid-January 2024, the inflation rate stood at 5.26 percent, marking a slight improvement from the 7.26 percent recorded during the same period the previous year.
Breaking down the data further, it’s evident that the food and beverages group experienced a modest inflation rate of 5.77 percent, while the non-food and services group saw a slightly lower rate at 4.85 percent by mid-January.
Interestingly, key categories such as ghee and oil, vegetables, meat and fish, and transportation sub-groups witnessed a decrease in the annual point price index by mid-January. Additionally, indices for spices and sugar, along with sugar-related products, showcased a gradual decline.
The Nepal Rastra Bank’s report also highlights a reduction in the growth rates of the import price index, salary and wage rate, and wholesale price index in January when measured on an annual point basis.
Despite these fluctuations in various indices, there’s a notable increase in the annual point salary and wage rate index, registering a 5.56 percent growth in January. This marks a significant shift from the 10.27 percent surge recorded in the corresponding month of the previous year.
These findings suggest a nuanced economic landscape in Nepal, with certain sectors witnessing stabilization or improvement while others undergo fluctuations. Analysts anticipate these trends to influence future economic policies and consumer behavior in the coming months.