In 2019, the average inflation rate in Nepal was at 4.64 percent, a slight drop compared to the previous year. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities, and raw materials (e.g. gas, oil), as well as federal fees and taxes.
Political and economic turmoil
The Nepalese economy is heavily influenced by the country’s political situation. It has made only slow progress in connecting with the global economy and improving the standard of living for its inhabitants but is now finally picking up speed. Nepal’s economy is not stable yet: Inflation is decreasing but all over the place – usually a sure sign of a struggling economy – and GDP growth is also not steady and forecast to decrease again in the future. Additionally, Nepal’s trade deficit seems to be in free fall.
Move to the city
A quarter of Nepal’s, mostly rural, population is living below the poverty line, but Nepal is working on improving their outlook in the future. Today, agriculture contributes about a third to the country’s GDP, and a sizeable share of commodity exports consists of agricultural products – but already the lion’s share of Nepal’s GDP is generated by the services sector, like tourism and textiles. By shifting GDP generation to services, and consequently creating jobs in the cities and attracting more people to urban areas, Nepal might finally be able to stabilize its economy and provide better living standards for its inhabitants.
Nepal: Inflation rate from 1987 to 2029
(compared to the previous year)
Characteristic
Inflation rate compared to previous year
2029*
5.4%
2028*
5.4%
2027*
5.4%
2026*
5.4%
2025*
5.21%
2024*
5.64%
2023
7.82%
2022
6.26%
2021
3.6%
2020
6.15%
2019
4.64%
2018
4.15%
2017
4.45%
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Created with Highcharts 7.2.2Inflation rate compared to previous year13.29%13.29%11.02%11.02%8.08%8.08%8.93%8.93%7.94%7.94%21.06%21.06%8.87%8.87%8.95%8.95%7.68%7.68%7.18%7.18%8.1%8.1%8.33%8.33%11.38%11.38%3.39%3.39%2.44%2.44%2.9%2.9%4.74%4.74%3.96%3.96%4.54%4.54%7.96%7.96%6.2%6.2%6.68%6.68%12.62%12.62%9.57%9.57%9.57%9.57%8.31%8.31%9.87%9.87%9.04%9.04%7.21%7.21%9.93%9.93%4.45%4.45%4.15%4.15%4.64%4.64%6.15%6.15%3.6%3.6%6.26%6.26%7.82%7.82%5.64%5.64%5.21%5.21%5.4%5.4%5.4%5.4%5.4%5.4%5.4%5.4%19871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024*2025*2026*2027*2028*2029*
0%5%10%15%20%25%
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IMF. (October 22, 2024). Nepal: Inflation rate from 1987 to 2029 (compared to the previous year) [Graph]. In Statista. Retrieved February 20, 2025, from https://www.statista.com/statistics/422594/inflation-rate-in-nepal/
IMF. "Nepal: Inflation rate from 1987 to 2029 (compared to the previous year)." Chart. October 22, 2024. Statista. Accessed February 20, 2025. https://www.statista.com/statistics/422594/inflation-rate-in-nepal/
IMF. (2024). Nepal: Inflation rate from 1987 to 2029 (compared to the previous year). Statista. Statista Inc.. Accessed: February 20, 2025. https://www.statista.com/statistics/422594/inflation-rate-in-nepal/
IMF. "Nepal: Inflation Rate from 1987 to 2029 (Compared to The Previous Year)." Statista, Statista Inc., 22 Oct 2024, https://www.statista.com/statistics/422594/inflation-rate-in-nepal/
IMF, Nepal: Inflation rate from 1987 to 2029 (compared to the previous year) Statista, https://www.statista.com/statistics/422594/inflation-rate-in-nepal/ (last visited February 20, 2025)
Nepal: Inflation rate from 1987 to 2029 (compared to the previous year) [Graph], IMF, October 22, 2024. [Online]. Available: https://www.statista.com/statistics/422594/inflation-rate-in-nepal/
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