Nepal records soaring inflation over June| MENAFN.COM

Wednesday, 29 June 2022 11:54 GMT

Nepal records soaring inflation over June

(MENAFN) As the prices of both food and non-food items jumped, Nepal's inflation increased to 11.1 percent in the 11th month of last fiscal year from the prior month's 10 percent.

In detail, prices of food items grew to double digit in mid-June, the end of the 11th month, while standing at single digit over the previous month, based on Nepal Rastra Bank's data.

The higher rate of increase in price indices of vegetables, pulses and legumes, alcoholic drinks among food items exerted an upward pressure on overall inflation during the cited period.

Besides having few tangible natural resources and poor infrastructure, the ineffective post-1950 government and the long-running civil war are top factors in stunting the nation's economic growth.

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