Price hike reaches two digits
KATHMANDU: Consumers suffered the most at the end of the year 2009. According to Nepal Rastra Bank (NRB) data, the fifth month of the current fiscal year witnessed a two-digit price hike while the rate was at one digit in the fourth month.
Last December recorded an 11.3 per cent price hike in consumer
goods while the price of widely consumed goods like food and beverages went up to 17.8 per cent. Non-food and service sector price hike was 3.7 per cent in the fifth month of 2009-10.
Sweets became tart with the highest price hike of 56.9 per cent last December. Last year, the rate was 35.9 per cent. Price of vegetables and fruits, pulses, spices as well as meat, fish and eggs sub-groups increased in the fifth month of this fiscal year by 39.3 per cent, 34.6 per cent, 28.4 and 21.9 per cent, respectively, as compared to an increase of 3.4 per cent, 25.7 per cent, 10.1 per cent and 21.5 per cent in the same period last year.
Region-wise, the price index of Terai rose by 12.3 per cent, followed by 11.8 per cent in Hills and 9.3 per cent in Kathmandu Valley during the review period. The respective rates were 13.1 per cent, 13.6 per cent and 16.2 per cent last year.
Wholesale price hike increased by 18.9 per cent compared to 10.1 per cent a year ago. Price of agriculture commodities increased by 38.7 per cent last December while the rate was 6.1 per cent and 12.3 per cent a year ago.
Salary and wage rate index rose by 17.4 per cent in the review period as compared to a rise of 14.6 per cent a year ago. The increase in basic salary and allowances by the government for civil servants and its simultaneous effect on salary of the private sector contributed to such an increase in salary index.