Link: https://www.reuters.com/business/food-energy-prices-push-nepal-inflation-near-six-year-high-2022-05-11/
On wednesday May 11, 2022 Nepal has once again seen high inflation affect the price of goods. Nepal has seen a new six year high in inflation with it topping out at 7.28%. This is greatly affecting the lives of the citizens of Nepal. For example edible oils have been hit the hardest by inflation with the price of cooking oils rising almost 29%. This is bad because cooking oils are extremely commonly used in Nepal and used in many dishes that are cooked. Other things that have been hit hard are things like eggs and milk which have seen an 11% jump in price.
This is important because high inflation causes people to get upset with the government and people that are in power. For example with what you see right now in the United States. Many Americans are upset with the rising inflation and we have a similar level of inflation to Nepal. If the Nepalis government doesn’t do something about the problem soon then you will likely start to see disapproval of the government shoot up in Nepal. In the future it will be interesting to see how the government deals with the high inflation and also if they can keep the Nepalis people happy.
This relates back to our class because we talk about all the time how if leaders don’t make the people of their country happy then they will find themselves out of power quickly. Right now in Nepal the people aren’t happy with the government because of these high inflation rates. This means that the leaders in Nepal right now could soon find themselves out of power. It will also be interesting to see if regional powers like India will step in to help Nepal deal with their inflation. If India helps Nepal it could cement their important role in that region of the world.