First Business News Portal in English from Nepal
KATHMANDU: Public perception about inflation is quite high with 94 per cent assuming that the price of goods and services will go up in a year’s period, as per a recent survey carried by Nepal Rastra Bank (NRB).
Similarly, the survey report states that public expectation about the inflation in the next three months is staggering 86.9 per cent.
“Public estimates about inflation in the survey month mid-January to mid-February 2021 was 8 per cent, in the next three months 8.7 per cent and in a year 10 per cent,” as per the central bank.
Approximately 482 individuals from major cities in the seven provinces had participated in the survey.
NRB is preparing for the publication of public expectation about inflation from the current fiscal year 2021/22. The survey is currently limited to the urban consumers but soon it will be expanded to the rural areas, and trade unions, importers, wholesalers, producers, experts and entrepreneurs will be included in the days to come,” said the central bank.
It has also said that it followed the global trend of central banks to take the consumers’ future expectations about the market prices while formulating the direction of the monetary policy.
NRB opines that such information will also be useful for the policy makers, households, businesses and other sectors in the economy.
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