Maldives Consumer Price Index declines further in May 2020

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The rate of inflation, as measured by annual percentage change in the national CPI declines further to -3.9% in May 2020.

As such, the slowdown in inflation comes mainly reflected in government subsidies on electricity and water charges.

Moreover, extra allowances given telecommunication companies amid Covid-19 was resultant in CPI drop.

Furthermore the fall in housing rent, partially due to temporary relief given amid the pandemic.

Although the annual percentage change was in the negative territory, the monthly change in national Consumer Price Index was positive.

As such, the National Bureau of Statistics report a 0.1% bump in May 2020 following a -3.2% in April 2020.

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