Inflation looks up to double digit on weak market monitoring, CA election
The double digit price hike has made the lives of common people difficult. especially in Tarai and Kathmandu Valley.
Neither has the central bank been able to crack whip on inflation nor has the market monitoring could help the consumers, who have to pay more for the foods and and the goods due to hike in the prices.
According to the central bank, inflation increased to 10 per cent – mainly due to rise in food prices – in mid-November, the fourth month of the current fiscal year 2013-14.
The second Constituent Assembly (CA) election on November 19 that has flooded the market with 'hidden' cash has also pushed the market price – as expected – in the fourth month.
Earlier in mid-March the inflation was at 10.2 per cent.
The macro economic situation of the central bank revealed that food items became dearer by 13.5 per cent, though non-food items increased by 6.9 per cent, against 8.9 per cent and 11.7 per cent in the same period of the last fiscal year.
Among the food price also vegetable prices jumped by 35.3 per cent followed by meat and fish which went up by 14 per cent, apart from cereals that saw an increase by 12.6 per cent, whereas restaurants became dearer by 11.9 per cent.
Similarly, among non-food items and services, prices of clothing increased the highest of 11.9 per cent.
Tarai was the most expensive followed by the Kathmandu valley as the inflation in Tarai touched 10.6 per cent whereas Kathmandu 10.4 per cent and other hilly areas with 8.4 per cent, the central bank data revealed.