Increased prices of things by 7.74 percent

Nepali consumers have started to be hit hard by high prices. The most expensive increase this year is in food and beverages. During the review period, the price increase of restaurant and hotel sub-group under the food and beverage group has increased by 14.42 percent.

Sugar, which was available at 100 rupees per kg a few weeks ago, has now reached around 150 rupees, but sugar is not available openly in the market. Only last week, the Ministry of Finance has given permission to import 20,000 tons of sugar at a 50% customs discount. The food management and trading company and the Salt Trading Corporation have been allowed to import 10,000 tons of sugar under customs exemption. The government is bringing sugar through the Salt Trading Corporation and the Food Institute, but the representatives of these organizations claim that the sugar will come after the end of Dashain. “It will take 45 days for the sugar to arrive and it will not solve the problem,” says an employee.

Market monitoring agencies have not been able to do anything more than ritualistic behavior. How far will consumers be robbed in the face of the festival?

In the case of recession, the demand among the consumers will be low and the prices of goods and services should be reduced. Unfortunately, the market is not like this. The prices of goods and services have increased. Common people’s income is losing, but day by day, consumers are getting injured due to the impact of high prices. There is a risk of increasing poverty.

According to Nepal Rastra Bank, in the first month of the current financial year, prices have increased by 13.50 percent in the transportation sub-group and 10.18 percent in entertainment under the non-food and service group. There has been a 10.01 percent increase in health, 8.79 percent in education and 8.65 percent in household items.

The Central Bank has shown that Kathmandu Valley has to pay more. In the month of July of the current financial year, the annual point consumer inflation of Kathmandu Valley is 8.5 percent. In July of the last financial year, the inflation rate in Kathmandu Valley was only 7.39 percent. This shows that consumers in the capital have been hit by higher prices.