Maldives inflation rate increases by 4.38 percent within a year

Maldives Department of National Planning has revealed that the country’s inflation rate has increased by 4.38 percent within the past year.

The Consumer Price Index (CPI) published by the department today shows that the Maldives inflation rate has increased by 4.38 percent from April 2012 to April 2013, compared with 4.17 percent through the year to March 2013.

Reflecting on the increase in inflation rate over different groups, inflation for the fish group rose by 16.12 percent while the inflation for food and non-alcoholic beverages group rose by 7.30 percent, inflation for the health group rose by 7.66 percent, inflation for transport group rose by 2.37 percent and clothing and footwear group rose by 4.76 percent over the twelve months, until April 2013.

Reflecting on the decline in inflation rate, the inflation rate for tobacco and arecanut group fell by 2.30 percent, the inflation rate for communication group fell by 0.97 percent and the inflation rate for the recreation and culture group fell by 1.47 percent, over the twelve months until April this year.

Looking at April this year, the most significant rise in the CPI was for fruits, a total of 2.31 percent. The CPI for glassware, tableware and household utensils also rose by 1.23 percent, along with meat which saw a total increase of 0.79 percent.