Maldives monthly inflation increases by 0.12 percent

Department of National Planning statistics show that monthly inflation in the Maldives has increased by 0.12 percent.

The department’s numbers show that the Consumer Price Index saw an overall rise of 0.12 percent in January 2013, compared to 0.39 percent in December 2012.

The annual inflation change from the corresponding month of the previous year, Jan 2012 to Jan 2013, stands at 4.33 percent.

Reflecting on different sectors, the education sector contributed to the most for inflation in January, with an increase of 4.58 percent. The rise is attributed to the commencement of the new academic year, and mainly due to the increase in school fees. A rise in inflation was seen from the health and transport sector as well, and increase of 2.12 percent and 1.96 percent respectively.

The most significant price falls in inflation recorded in January were from Information processing equipment, a reduction of 8.65 percent and from vegetables, a reduction of 2.96 percent.

Even though the inflation rate shows to have increased by 0.12 percent, it is a low increase compared to the increases seen in previous months.