Inflation rate reaches 4.32 % in January

The year-on-year consumer price index for January increased by 4.32 per cent compared to the same month, last year. This means that prices of goods and services in the country increased by 4.32 per cent in the 12 months. As per the National Statistics Bureau’s latest consumer price index report, food prices increased while non-food prices saw a decline.

The Consumer Price Index covers the goods and services consumed by households.

The NSB selects a sample of goods and services using household expenditure data to measure the inflation experienced by the households.

Prices of the sampled goods and services are collected from urban areas in 20 districts.

The NSB’s Consumer Price Index basket has 113 items with 314 varieties.

In the January report, food items, which include alcoholic and nonalcoholic beverages, and betel nuts saw an increase in prices of increase over the past 12 months.

The inflation rate for food items increased from 1.49 per cent in January last year to 5.83 per cent in the same month this year.

On the other hand, non-food products saw a decrease from 6.81 per cent to 3.06 per cent during the same period.

In the 12-month period spanning January to January, almost all the categories experienced an increase in prices except for transport and communication.

Meanwhile, the value of ngultrum continues to depreciate. The purchasing power of ngultrum or PPN is 56.5 in January 2024 as compared to December 2012 prices.

This means Nu 100 in December 2012 is worth only Nu 56.5 today.

The purchasing power of ngultrum dropped by 4.14 per cent in the last year due to a price rise in the economy.

Deki Lhazom

Edited by Sherub Dorji 

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