NRB Survey Finds Public Had Estimation Of High Inflation

A recent survey by the Nepal Rastra Bank (NRB) has showed that 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.
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,” said the central bank in a statement on Sunday. The survey report was also published on the same day.
Approximately 482 individuals from major cities in the seven provinces had participated in the survey. “NRB has completed the preparations 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.
Such information will also be useful for the policy makers, households, businesses and other sectors in the economy.
The central bank was planning to bring out the monetary policy for the current fiscal year this month but with the change in the government and possible amendments in the priorities of the budget announced through the ordinance, Finance Minister Janardan Sharma has said that the policy would have delayed announcement.

Source : TRN,