KATHMANDU: The year-on-year consumer price inflation (CPI) soared to nearly a six-year high of 8.56 per cent in the 11th month (mid-May to mid-June) of fiscal year 2021-22 compared to 4.19 per cent a year ago, the latest macroeconomic data of the central bank unveiled on Monday showed.
The last time inflation was at this level was in mid-August of 2016, when inflation stood at 8.6 per cent.
While the annual price growth has surged past the 6.5 per cent target set by the Nepal Rastra Bank through the Monetary Policy for 2021- 22, the average monthly year-on-year inflation for 11 months was recorded at 6.09 per cent and still within the central bank's target.
Inflation in India was 7.04 per cent in May 2022.
A version of this article appears in the print on July 12, 2022, of The Himalayan Times.
