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Overall assessment: Nepal’s agrifood systems remained largely stable with moderately higher year-on-year inflation of 7.5 percent in August 2023 against the target of 6.5 percent. Year-on-year inflation in food prices (8.9 percent) and the depreciation of the Nepali currency against the USD have generally put pressure on consumers. Cereal prices continue to remain high: Annual inflation in cereal grains and their products’ prices increased by 13.2 percent – a large jump – in August 2023. Such rises in prices may be partially attributed to speculation resulting from global paddy supply challenges followed by India’s restrictions on rice exports, worsening the issue of already declining domestic supply in 2022 compared to the previous year. The rising price of cereals will affect poor households who spend a relatively greater share of their budget on cereals. Laborers experienced marginal decline in their real wage rate: Year-on-year growth in wages was 6.7 percent in August 2023, somewhat less than the inflation rate of 7.5 percent. A similar trend was noticed for agricultural laborers for the same period. The lower wage rate compared to inflation can directly hit the daily paid laborers to afford sufficient food.
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Kathmandu (Nepal)
Publisher
CSISA
TAFSSA
TAFSSA
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Related Datasets
CGIAR Initiatives
Initiative
Transforming Agrifood Systems in South Asia
Impact Area
Climate adaptation & mitigation
Action Area
Resilient Agrifood Systems
Donor or Funder
United States Agency for International Development (USAID)
CGIAR Trust Fund
CGIAR Trust Fund