Inflation soars to 11.2 pc

The year-on-year inflation as measured by the consumer price index stood at 11.2 percent in mid-September 2012 as compared to 8.5 percent in the corresponding period of the previous fiscal year.

According to the current macroeconomic situation based on the two months of the current fiscal year unveiled by Nepal Rastra Bank (NRB) on Friday, the index of food and beverage group increased by 10.4 percent whereas non-food and services group increased by 11.9 percent during the review period. These indices had increased by 10.1 percent and 7.2 percent respectively in the corresponding period of previous year.

Region-wise, the price indices in Kathmandu Valley increased by 11.9 percent followed by Terai by 11.2 percent and in Hills by 10.5 percent during the review period. The respective increments were 6.7 percent, 8.4 percent and 11.0 percent respectively in the corresponding period of the previous year.

The y-o-y wholesale price index increased by 10.2 percent during the review period compared to a rise of 7.1 percent in the corresponding period of the previous year.

The wholesale price indices of imported commodities, agricultural commodities and domestic manufactured commodities are 12.8 percent, 10.0 percent and 6.8 percent respectively during the review period. The respective increments of these sub-groups were 10.5 percent, 3.9 percent and 12.3 percent in the corresponding period of the previous year.

Under the group of domestic manufactured commodities, the wholesale price indices of construction materials increased by 9.8 percent during the review period while the wholesale price indices of food-related products and beverages and tobacco increased by 8.9 percent and 3.5 percent respectively during the review period.

As for the imported commodities, the wholesale price indices of petroleum products and coal and textile-related products increased by 25.9 percent and 13.3 percent respectively during the review period. Similarly, the price indices of drugs and medicine and chemical fertilizer and chemical goods increased by 11.0 percent and 5.6 percent respectively during the review period.

The y-o-y salary and wage rate index increased by 10.6 percent during the review period compared to an increase of 30.5 percent in the corresponding period of the previous year.

The salary indices of public corporations increased by 4.2 percent during the review period while the indices of wages of industrial labourers, construction labourers and agricultural labourers increased by 19.2 percent, 11.4 percent and 11.2 percent respectively during the review period. These indices had increased by 24.6 percent, 37.2 percent and 37.7 percent respectively in the corresponding period of the previous year. nepalnews.com