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Economic Report Released By The Central Bank Of Nepal
By KTM Metro Reporter
April 17, 2013: The inflation has increased by 10.2 per cent during the eight months ending in mid-March of the current fiscal year as compared to 7 per cent during the same period last year. Prices of food and beverage have increased by 11.3 per cent, of non-food and services increased by 9.3 per cent in mid-March, according to a report on macroeconomic situation of Nepal published by Nepal Rastra Bank (NRB) on Tuesday, April 16, 2013.
Prices of meat and fish have increased 17.1 per cent compared to 5.8 per cent increase in the corresponding month of the previous year. Among the non-food items and services, prices of house furnishing and household equipment went up by 12.7 per cent during the review period compared to the increase of 13.4 per cent in the corresponding months of the previous year. Prices of education and clothing and footwear sub-groups increased by 12.5 per cent and 11.5 per cent respectively during the review period.
Price increase by region recorded in the Kathmandu valley is 10.8 per cent followed by 10.2 per cent in Terai and 9.6 per cent in the hill in the eight months of the current fiscal year. These increases were 5.6 per cent, 7.1 per cent and 8.6 per cent respectively in the corresponding months of the previous year.
The overall balance of payment (BOP) recorded the surplus of Rs. 11.78 billion during the eight months of the current fiscal year 2012 compared to the surplus of Rs. 81.09 billion during the same period of the previous year.
The current account posted the surplus of Rs. 9.50 billion in the review period compared to the surplus of Rs. 37.51 billion in the same period of the previous year, according to the central bank report.
The decline in surplus in the current account was largely due to a substantial rise in the imports of merchandise and services as well as the slow growth of workers' remittances in the review period.
In US dollar, the current account registered the surplus of US dollar 107.6 million in the review period compared to the surplus of 469.7 million US dollars during the corresponding period of the previous year.
