Inflation rate falls by 0.13 percent

The National Bureau of Statistics (NBS) has revealed that the inflation rate of Maldives fell by 0.13% in November.

The Consumer Price Index for November 2019 publicized by the bureau show the Consumer Price Index fell for all groups by 0.13% in November 2019, compared to the rise of 0.28% the previous month.

The statistics revealed that, the index for all items excluding fish fell by 0.19% in November compared to the rise by 0.43% in October. The Consumer Price Index for all groups rose by 0.75% throughout the year until October 2019.

The Consumer Price Index of housing, water, electricity, gas and other fuel groups fell by 0.45% in November. The most significant price increase in this month was from mobile communication services (2.28%), restaurants and cafes (0.35%), milk, other dairy products and eggs (0.41%), meat (1.42%), fruit (0.66%) and medicines (0.44%).

The budget approved by the parliament for 2020 anticipates a decline in the rate of inflation during the current year. It is estimated that inflation will remain at 1% throughout the year.