0.04 percent growth in inflation rate

Local Fish Market in Male' City. (Photo/Sun/Ahmed Awshan Ilyas)

Inflation rate of Maldives has increased by 0.04 percent within the last month.

Statistics of April, 2019, published by the National Bureau of Statistics shows that the inflation rate of Maldives increased by 0.8 percent during the time period of April 2018 - April 2019.

The main cause of this increase in inflation is due to the increase in prices. Increase in price of oil led to the increase in prices of other goods, which led to the increase in inflation rate.

During the month of April, the prices of fruits increased by 21.68 percent, while the prices of bread and cereals increased by 0.11 percent. Price of housekeeping increased by 0.62 percent and rents of houses rose by 0.04 percent. Prices of cycles experienced a growth of 7.35 percent. Prices of cafés and restaurants increased by 4.24 percent.

Additionally, prices of fishes decreased by 8.9 percent and vegetables by 3.64 percent. Video and audio recording equipment had a price decrease of 3.86 percent while household equipment decreased by 1.35 percent. Prices of milk, cheese and eggs fell by 0.17 percent and interior designing items experienced a 2.11 percent decrease in prices. Prices of meat was lowered by 0.58 percent.

According to the statistic report, the highest increase in prices were experienced by hotels, restaurants and cafés.

The highest fall of prices were from fishes.