Inflation rate crosses 8 percent mark in Nepal

The inflation rate in Nepal was recorded 8.56 percent in Jestha ( May/June), according to the Nepal Rastra Bank (NRB). The rate was 4.19 percent at the same period last year.

The inflation rate was 7.43 percent in food and beverages while it was 9.44 percent in service and other sectors.

The inflation rate was 8.32 percent in Kathmandu, 8.29 percent in Terai region, 9.28 percent in hilly region and 8.92 percent in Himalayan region in the month of Jestha.

Meanwhile, NRB governor Maha Prasad Adhikari has said that the inflation will be higher than the target in the coming fiscal year as well. Governor Adhikari said this while speaking at a discussion organized by the Finance Committee under the House of Representatives on the upcoming monetary policy with the NRB on Monday.

He said that the central bank has set a target of 6.5 percent inflation in the current fiscal year but the inflation is likely to go beyond the target due to the sharp rise in inflation in the international market.