Political instability after Gen Z protests pushed food prices up eightfold
Summary
Food prices in Nepal surged up to eightfold in the first four months of the fiscal year following political instability and Gen Z-led protests, with middlemen exploiting the situation. A government report urges regulatory action to stabilize prices amid conflicting inflation data from the central bank.
Key Points
- Food prices in Nepal increased sharply within four months, with some items rising as much as 800 percent following political instability and Gen Z protests.
- Middlemen's involvement, aided by political protection, exacerbated price hikes for vegetables, fruits, and daily essentials, according to the government report.
- Discrepancies exist between the Department of Commerce's price report and Nepal Rastra Bank's inflation data due to differing comparison periods.
- Consumer rights activists call for government action against middlemen and stricter market regulation to bridge the gap between farm-gate and consumer prices.
