Minister Claims 10% Price Drop Amidst Rising Consumer Goods Costs
Summary
Prices of daily essentials have surged by up to 36% in the past six months despite Minister Deepak Kumar Sah claiming in parliament that market prices had fallen by 10%. Data from the Nepal Retail Trade Association shows steep increases in staples such as coriander powder, mustard oil, pulses and rice ahead of the festival season.
Key Points
- Minister Deepak Kumar Sah told parliament that the government had instructed retailers and distributors to cut prices by 10 to 15 percent and claimed market prices had fallen by 10%.
- Retail price lists from the Nepal Retail Trade Association show that the prices of most daily necessities have instead risen over the past six months, with coriander powder up 35.71% and many staples increasing by 2% to 36%.
- The report says weak market monitoring and the transfer of the Department of Commerce's Director General have left the department without full leadership ahead of the festivals.
- Officials say some monitoring continues, but the department's quasi-judicial powers to fine or seal shops are currently stalled.
