Nepal's inflation soars to 13.7 pct

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Kathmandu: Inflation in Nepal is showing no signs of easing even though the wholesale price index touched a 30-year low in neighbouring India, on which the Nepalese economy is heavily dependent, is nearing zero, a Nepal Rastra Bank report has said.

The rate of price rise still remains well above 13.7 per cent in mid-February 2009 in Nepal, though commodity prices eased slightly during the seventh month of 2008-09. However, the prices of food and beverages, non-food items and services show no sign of falling, the report released on Monday said.

India's inflation fell to 0.27 per cent, a new low in over 30 years, for the week ended March 14.

"Food and beverages prices grew by 18.1 per cent, while the prices non-food items and services rose by 9.1 per cent," in mid-February, 2009," the report said.

Among food items, price of sugar and sugar-related products soared by 46.7 per cent, while pulses as well as meat, fish and eggs increased by 26.5 per cent and 22.9 per cent, respectively, and grains and cereal grew costlier by 14.7 per cent, adds the report.