Remittance inflow up by 21.7 %; Consumer price inflation dips to 5.01%

Kathmandu / Mar 10: Remittance inflows recorded in the first seven months of the current Fiscal Year (FY) increased by 21.7 per cent.

According to the Nepal Rastra Bank (NRB) data published today, remittance inflows increased by 21.7 per cent to Rs 834.5 billion in the review period of the first seven months of this FY. In the same period last FY it was Rs 685.8 billion.

However, the data revealed that in the review period, the number of Nepali workers, both institutional and individual taking approval for foreign employment declined to 247,012, and taking approval for renewed entry also declined to 158,540.

In the previous year, such numbers were 314,767 and 167,708 respectively.

Nepal saw consumer price inflation dip to 5.01% in Magh

In the Nepali month of Magh (mid-January to mid-February), consumer price inflation decreased to 5.01 percent, according to the financial situation report from Shrawan to Magh of the current fiscal year published by Nepal Rastra Bank (NRB).

This represents a decrease of 2.87 percent compared to the same period last year when consumer price inflation was recorded at 7.88 percent.

The report details that the price increase for the beverage group stood at 6.51 percent, while the non-food and service group saw a price increase of 3.85 percent. Within the food and beverage group, the annual spot price index showed significant increases for spices (32.11 percent), pulses (11.15 percent), dairy products and eggs (10.78 percent), food products (9.06 percent), and vegetables (7.58 percent). In contrast, the annual spot price index for the ghee and oil sub-group decreased by 12.33 percent.

For the non-food and service group, notable annual point price index increases were observed in the entertainment and culture sub-group (12.61 percent), miscellaneous goods and services (9.15 percent), and education (7.31 percent). However, the transportation sub-group experienced a significant decrease of 41 percent in its annual point price index during the review month.