Remittance inflow increases by 17 %; Consumer inflation 8.50 %
Kathmandu / Nov 16: The country received remittances of Rs 281 billion in three months (review period) of the current fiscal year, a 17 percent rise compared to remittances inflow in the corresponding period last year. The remittance inflow in the same period last year saw a fall of 7.9 percent compared to the previous year.
In the review period, the number of Nepali obtaining final labour permit (new- institutional and individual) for foreign employment increased by 123.1 percent. In the period 147,932 took the labour permit.
Likewise, the number of Nepali renewing the labour permit for foreign jobs went up 66.2 percent with their numbers counting at 57,861. Last year, there was a rise in this figure by 217.7 percent as compared to the previous year.
In the review time, the net transfer rose by 17.1 percent to touch at 310.4 billion and it was followed by a 7.6 fall in the corresponding period last year.
Consumer inflation hits 8.50 per cent: NRB
The year-on-year (y-o-y) consumer inflation has hit 8.50 per cent in the first quarter of the current fiscal year, 2022/23, said the Nepal Rastra Bank (NRB).
It is highest in the Tarai with 9.42 percent followed by 8.84 percent in the Hills, 7.07 in the Mountain and 6.93 in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts), according to a report on the current macroeconomic and financial situation of the country published here today by the central bank.
During the same period between July 17 and October 17, price of food and beverage saw an increment of 8.05 percent inflation and non-food and service sector 8.85 percent.
Similarly, restaurant and hotel sector witnessed a surge of 15.91 percent inflation, fruits 12.06 percent, alcoholic beverage 10.24 percent, dairy products and eggs 9.45 percent and tobacco products 8.11 percent.
Under service sector, transport saw an increment of 21.15 percent inflation, health 10.54 percent, furnishing and household equipment 9.45 percent and education 8.11 percent.
Also, the y-o-y wholesale inflation stood at 13.73 percent. RSS