Nepal inflation rate (CPI)

What this value means

BS YEAR AND WHAT 'MID-JUNE' MEANS: NRB labels each observation by the Gregorian month in which the Nepali month ENDS. 'Mid-June 2026' is the Nepali month Jestha 2083, which ran 15 May to 14 June 2026 — that is the period served in effective_from/effective_to. Every Nepali macro release uses this mid-month convention; matching a Nepali 'mid-June' figure against a Western June calendar month will misalign the series by roughly half a month. THE COMPILER IS THE CENTRAL BANK, NOT THE STATISTICS OFFICE. Unlike most countries in this dataset, Nepal's CPI is compiled and published by NEPAL RASTRA BANK's Economic Research Department — Table A2 of NRB's own Macroeconomic Report, July 2026 prints the series under 'Source: Nepal Rastra Bank'. The National Statistics Office produces national accounts and the census, not the headline CPI. A source-watcher pointed at nsonepal.gov.np for Nepali inflation will find nothing. BASE YEAR WAS REBASED: the index is now base year 2023/24 = 100 (the previous base was 2014/15 = 100), so index LEVELS before and after the rebase are not comparable even though the y-o-y rates are chained. DIRECTION OF TRAVEL — INFLATION IS RISING FAST FROM A VERY LOW BASE. It bottomed at 1.11% at mid-November 2025, the lowest in years, and has climbed every month since: 1.63, 2.42, 3.25, 3.62, 4.47, 5.04, 5.22. NRB's Macroeconomic Report attributes the reversal to a sharp rise in petroleum prices feeding transport costs (transport prices +15.31% y-o-y) and to food leaving deflation — food and beverage inflation was NEGATIVE from mid-July 2025 to about mid-December 2025 and only turned positive in the spring, reaching 4.95%. NRB's own decomposition says the base effect drove inflation between December 2025 and February 2026 but turned negative after, and momentum has been the main driver since March 2026. The rate is now just below the 5.5% target set for FY 2083/84. AVERAGE vs POINT — DO NOT MIX THEM: the same release reports AVERAGE inflation for the eleven months of FY 2025/26 at 2.89%, less than half the 5.22% point figure, because the year began in near-deflation. Nepali commentary quotes both. WHOLESALE IS A DIFFERENT AND MUCH HOTTER INDEX: y-o-y wholesale price inflation was 8.47% at mid-June 2026 (base 2017/18 = 100) against 5.22% CPI — driven by intermediate goods at 14.64% while consumption goods actually FELL 1.00%. Do not cite WPI as Nepali inflation. DISAGGREGATION PUBLISHED WITH IT: by ecological belt, Terai 5.74%, Hill 5.07%, Kathmandu Valley 4.98%, Mountain 3.71%; rural 4.78% vs urban 5.38%; by province, Koshi 5.75%, Madhesh 5.62%, Gandaki 5.05%, Karnali 4.89%, Bagmati 4.79%, Sudurpashchim 4.61%. COMPARISON THE CENTRAL BANK ITSELF DRAWS: para 10 of the same release sets Nepal's 5.22% against India's 3.93% (May 2026) — with the rupee pegged to the Indian rupee, the Nepal-India inflation differential is the variable NRB watches, and Nepal has been running ABOVE India through 2026. Next release: twelve-month (full FY 2082/83) data, expected mid-August 2026. Report archive: https://www.nrb.org.np/category/current-macroeconomic-situation/?department=red&fy=2082-83

Earlier values

Get it programmatically

curl https://asiaref.dev/v1/np/cpi
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History:    curl https://asiaref.dev/v1/np/cpi/history?from=2020-01-01
# Provenance: curl https://asiaref.dev/provenance/np/cpi

Other Nepal series: policy interest rate · VAT rate · minimum wage · public holidays · corporate tax rate · income tax rates