7/31/2019 Daily Essential Goods Get Costlier This Dashain

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Daily essential goods get costlier this Dashain

KATHMANDU, OCT 22 -

This yearsDashain has been more expensive than previous years as the price index of essential

goods and services has gone up significantly.

Although the year-on-year inflation measured by the consumer price index increased by 11.2

percent and index of food and beverage increased by 10.4 percent, the price of some essential

commodities under the food and beverage group has soared, according to a report by Nepal RastraBank (NRB).

The price index of sugar and sweets sub-group, one of the most essential commodities for

Dashain , increased by 23.4 percent during the first two months of this fiscal year compared to an

increase of 5.7 percent in the corresponding period of the previous year.

Similarly, within the group of non-food and services, the price index of transport increased by 15.7percent during the review period compared to an increase of 12.7 percent in the corresponding

period of the previous year. Although the government turned down transporters demand for fare

hike during Dashain , the fare hike in July-end has marred public duringDashain .

The price index of clothing and footwear and furnishing and household equipment increased by

15.1 percent and 14.6 percent, respectively.

Meanwhile, Nepals merchandise exports went up by 11.9 percent to Rs 13.97 billion in the first

two months. But exports to India declined by 0.4 percent in contrast to an increase of 18.5 percentin the corresponding period of the previous year.

Exports to India, according to the report, decreased mainly due to the decline in the export of

thread, zinc sheet, M S pipe and readymade garments, among others. Exports to other countries,

however, increased by 34 percent compared to an increase of 16.6 percent in the correspondingperiod of the previous year.

On the other hand, merchandise imports increased by 29.7 percent to Rs 90.65 billion. Such

imports had risen by 14.5 percent to Rs 69.92 billion during the corresponding period of the

previous year.

Surge in the import was primarily due to a sharp increase in imports from India. Imports from

India went up by 31.5 percent during the review period compared to an increase of 2 percent in thesame period of the previous year. Major commodities imported from India were petroleum

products, MS billet, chemical fertilizers, cement and rice, among others.

Likewise, the countrys trade deficit widened by 33.5 percent to Rs 76.68 billion compared to an

increase of 13.7 percent during the same period of the fiscal year. The deficit with India increased

by 38.7 percent during the review period in contrast to a decline by 1.1 percent in the same period

of the previous year.

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7/31/2019 Daily Essential Goods Get Costlier This Dashain

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Posted on: 2012-10-22 08:58