Maldives inflation rate increase by 1.29% in annual terms

The inflation rate of Maldives has increased by 1.29% in annual terms according to the country’s National Bureau of Statistics (NBS).

The state institution in their data collected, has confirmed the inflation rate rose by 1.29% from December 2018 to December 2019 while the changes to inflation marked from November 2018 to November 2019 shows an increase of 0.54%.

The Consumer Price Index (CPI) for Maldives, exclusive for December 2019 shows that the inflation was observed at 0.48% whereas in November of last year, it was at 0.13%.

Major categories where price bumps were significant included vegetables at 21.17% and communication (mobile phone) category increased by 2.10% in all base prices while there was an increase of 1.56% in meat.

On the other hand, price deflation were observed in the category of fish which dropped by 1.19%, fruits by 1.71% while home appliance goods; mostly audio and video recording equipment observed a 2.50% drop in base prices.

Motorbikes and accessories observed a 0.54% drop while other communication equipment and services saw an overall decrease of 0.69%.