June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).

The Current Macroeconomic and Financial Situation Report published by the central bank on Friday states that food and beverage inflation during the review month stood at 5.54 percent whereas non-food and service inflation rose to 8.89 percent.

Under the food and beverage category, y-o-y price index of spices sub-category increased 26.61 percent, restaurant and hotel 14.87 percent, cereal grains and their products 13.69 percent, milk products and eggs 10.41 percent and tobacco products 8.49 percent.

Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.75 percent, miscellaneous goods and services 13.08 percent, education 10.56 percent, housing and utilities 9.65 percent and furnishing and household equipment 8.27 percent.

In the review month, consumer price inflation in the Kathmandu Valley surged the most to 7.68 percent followed by 7.57 percent in the hills, 7.15 in the Terai and 7.12 percent in the mountains. Inflation in the Kathmandu valley was 7.39 percent a year ago while  that of the Terai was 8.15 percent, hills 7.89 percent and mountains 8.21 percent.