National food price inflation remains of significant concern. Staple food prices, including those of coarse rice and wheat, rose slightly over the past month. Nepal Rastra Bank’s May 2010 data indicates that recent year-on-year food price inflation is over 14.6 percent. High food prices are driving overall consumer price inflation, which is currently estimated at 10.8 percent. A nation-wide strike called by the Unified Communist Party of Nepal (Maoist) between 2 May and 7 May heavily restricted the opening of food markets and stopped virtually all food transportation. Strong supply of chicken has resulted in price reductions of between 11%– 20% in major urban markets and in the Terai.In general, the price of staple food grains has slightly increased across Nepal this month. In the markets regularly monitored by WFP and MoAC, the average price of coarse rice in March was Npr 31.3 per kilo (compared to 30.9 last month); the national average wheat price was Npr 33.4 per kilo (compared to Npr 33.0 last month); musuro (broken lentil) was Npr 110.0 per kilo (compared to Npr 106.0 last month); potato was Npr 20.8 (compared to 18.6 last month). National food price inflation remains of significant concern.The most recent year-on-year food price inflation figure provided by the Nepal Rastra Bank for May was 14.6%. This is down from 18% two months ago. High food prices are driving overall high consumer price inflation, which is currently estimated at 10.8% compared to 12.6% two months ago. Compared to 12 months ago the price of coarse rice is up nationally by 12%, the price of wheat flour is up by 40 15%, the price of lentils is up by 10%, and the price of black- gram is up by 35%.
#MarketWatch #MarketDevelopment #PriceIncrease
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Publisher:
WFP, MOAC, FNCCI/ AEC, CIPF
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(2010
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Type / Script:
Bulletin or Poster
in English
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Keywords:
NATIONAL FOOD PRICE INFLATION, NATIONAL MARKET DEVBELOPMENT, MAJOR PRICE, PRICE INFLATION,PRICE CHANGE, LARGEST INCREASE, COMMODITIES, LARGEST DECREASE, FOOD, STRIKE, MARKET
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Thematic Group:
WFP
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Food and Emergency humanitarian logistict support
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Thesaurus:
02.02.00
- Economic Conditions
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Reference Link:
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