Inflation rate increases by 0.29 percent

The inflation rate in the Maldives increased by 0.29 percent in April, statistics have shown.

In its latest Consumer Price Index (CPI), Statistics Maldives said while the Maldives inflation rate was at 0.29 percent last month, the rate was at 0.34 percent during the same period the previous year. When the changes to the price of fish were not considered, the rate was at 0.25 percent in April and 0.33 percent in February.

The highest inflation in prices was recorded in that of fuel. The cost of petrol changes thrice in a month due to changes in oil price in the global market. Oil prices increased by 1.85 percent in April.

The price of fruits increased by 4.11 percent, while fish prices saw an increase of 1.12 percent. The cost of medicine and drugs increased by 1.49 percent, while mobile phone communication service prices increased by 1.15 percent. Air travel prices increased by 0.44 percent, and a 0.39 percent increase was recorded in the price of vegetables. A further 8.68 percent increase was recorded in the price of pets and 0.70 percent for sea travel.

A 0.06 percent drop was recorded in April in rent charged on apartments. The price of clothing decreased by 0.94 percent, and 1.82 percent in the cost of audio-video equipment. Contact lens solution prices fell by 1.53 percent, while the price of household goods also dropped by 0.68 percent. Comestics saw a 0.17 percent drop in prices, and a further 0.45 percent drop in furniture prices was also recorded.