Maldives Bureau of Statistics disclosed that the prices of goods and services in the Maldives decreased by 0.16% in October 2024 compared to September 2024,
Statistics shows that the most significant decline was observed in electricity prices, with household electricity bills falling by 2.64%.
Prices of fruits and vegetables also saw a decrease, with vegetable prices dropping by 3.91% and fruit prices by 1%. Additionally, food prices excluding fruits and vegetables fell by 0.44%, with common items such as onions, lemons, oil peppers, and carrots among those experiencing price reductions.
On the other hand, communication services saw the largest price increase, rising by 2.88%.
The government’s budget for next year anticipates maintaining inflation at 3.9%, with planned changes to the subsidy system set to take effect in 2025. If these policies are not implemented, inflation is expected to remain at 0.8%.