Annual inflation slows down to 9.1 per cent

Annual inflation slows down to 9.1 per cent

Despite massive price hike in food and beverage, and mainly vegetables, the consumer price inflation has slowed down in the last fiscal year. Consumer prices on an annual average went up by 9.1 per cent in the last fiscal year compared to 9.9 per cent a fiscal year ago in 2012-13, according to the central bank. Consumer prices grew by 9.1 per cent propelled by hike in food prices, the data revealed, adding that the price of food and beverages group went up by 11.6 per cent last fiscal, while the index of non-food and services group increased by 6.8 per cent. "The prices of vegetables soared by 20.5 per cent in the last fiscal, while prices of meat and fishes increased by 18.2 per cent." Increased remittance inflow aggravated inflation as it has increased people’s purchasing power apart from increased in demand for commodities Likewise, illegal cartels and syndicate also helped create artificial shortage leading to price hike in thee market last fiscal year. Region-wise, the annual average price indices increased by 9.6 per cent in Tarai followed by 9.1 per cent in Kathmandu Valley and 8.1 per cent in Hills in the last fiscal year, the report said, adding that the indices had risen by 10.2 per cent in Tarai, 9.7 per cent in Kathmandu Valley and 9.5 per cent in Hills a fiscal year ago in 2012-13.
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