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Fruits and vegetables at the Male local market. (Atoll Times Photo/Abdulla Yashau)

Commodity prices soar; inflation rises to 4%

The steepest rise in prices was seen in transport, fish, furniture and household appliances.

1 March 2023

Inflation in Maldives rose again to 4% at the end of January, official data has shown.

According to the central bank's economic data report for February released on Wednesday, inflation across the country rose to 4%. This was an increase of 0.6 points over last December. Inflation has been rising again since November.

  • Inflation stood at 3.4% in December

  • Inflation in October and November decreased; it was 2.9-%2.8% at the time

  • The steepest rise in prices was seen in transport, fish, furniture and household appliances

  • Prices have come down only in the communication sector

Inflation across the country has risen to 3.8% even without including the price of fish.

  • Inflation in the capital stood at 3.7%

  • Inflation in atolls stood at 4.3%

  • In the atolls too, prices were the highest in the transport sector

Last year, inflation in the country hit a record high. Inflation reached 5.2%, which was the highest in six years.

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