Inflation moderates, food costlier
REPUBLICA, 18-Dec-09
Country´s overall inflation moderated to 9.9 percent in mid-November 2009, compared to 14.5 percent during the same period last year, Sustained rise in food prices, however, continued to bore deep hole in consumers´ pockets.
Says a latest report of Nepal Rastra Bank (NRB), drop in consumer prices of non-food items and services caused overall inflation to moderate. “Otherwise, prices of food items have continue to grow by more than 16 percent,” it states.
On food items also, consumers mainly bore the brunt of sharp rise in prices of sugar and sugar-related products and fruits and vegetables.
Prices of sugar and sugar-related products had soared to about 51 percent during the period, while fruits and vegetables too had become expensive by about 39 percent.
The report further notes that lentils became expensive by 29 percent and meat, fish and egg prices too jumped 21.4 percent during the period.
Only food items whose prices soared at moderate rate are cereal products. Their prices during the period grew at the rate of 8.1 percent, whereas their prices had jumped 19.1 percent during the same period last year.
Consumers also witnessed low growth in transport fares and communication tariff during the period, compared to their price rise in the same period last year. Together, transportation and communications price index grew by 8 percent in mid-September, 2009, whereas their prices had grown by 22 percent in the same period last year.
Prices of tobacco and tobacco-related products too became expensive by 11.6 percent during the period.
Likewise, the overall year-to-year salary and wage rate index rose by 22.2 percent in mid-September 2009, as compared to a rise of 10 percent a year ago.
Of the salary and wage rate indices, the salary index increased by 32.8 percent. The increase in basic salary and allowances for civil servants and its simultaneous effect on salaries in the private sector contributed to such an increase in the salary index.
The overall wage index too went up by 18.9 percent during the period, compared to 13.3 percent during the same period last year.
REPUBLICA, 18-Dec-09
Country´s overall inflation moderated to 9.9 percent in mid-November 2009, compared to 14.5 percent during the same period last year, Sustained rise in food prices, however, continued to bore deep hole in consumers´ pockets.
Says a latest report of Nepal Rastra Bank (NRB), drop in consumer prices of non-food items and services caused overall inflation to moderate. “Otherwise, prices of food items have continue to grow by more than 16 percent,” it states.
On food items also, consumers mainly bore the brunt of sharp rise in prices of sugar and sugar-related products and fruits and vegetables.
Prices of sugar and sugar-related products had soared to about 51 percent during the period, while fruits and vegetables too had become expensive by about 39 percent.
The report further notes that lentils became expensive by 29 percent and meat, fish and egg prices too jumped 21.4 percent during the period.
Only food items whose prices soared at moderate rate are cereal products. Their prices during the period grew at the rate of 8.1 percent, whereas their prices had jumped 19.1 percent during the same period last year.
Consumers also witnessed low growth in transport fares and communication tariff during the period, compared to their price rise in the same period last year. Together, transportation and communications price index grew by 8 percent in mid-September, 2009, whereas their prices had grown by 22 percent in the same period last year.
Prices of tobacco and tobacco-related products too became expensive by 11.6 percent during the period.
Likewise, the overall year-to-year salary and wage rate index rose by 22.2 percent in mid-September 2009, as compared to a rise of 10 percent a year ago.
Of the salary and wage rate indices, the salary index increased by 32.8 percent. The increase in basic salary and allowances for civil servants and its simultaneous effect on salaries in the private sector contributed to such an increase in the salary index.
The overall wage index too went up by 18.9 percent during the period, compared to 13.3 percent during the same period last year.
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