Consumer price inflation in the Maldives remained subdued in December 2025, with modest monthly increases driven largely by food prices, while declines in electricity and housing-related costs continued to ease overall price pressures.
According to the latest Consumer Price Index (CPI) published by the Maldives Bureau of Statistics, the all-groups CPI rose by 0.16 per cent compared to November 2025. On a year-on-year basis, prices were 0.41 per cent higher than in December 2024, marking a continued slowdown from earlier inflation levels observed in mid-2025.
Food and beverages, including fish, were the largest contributors to the month-on-month increase, rising by 1.21 per cent. Price increases were particularly pronounced for vegetables, dairy products, eggs, and certain fish varieties, reflecting supply-side pressures and seasonal factors. Fish prices alone rose by 1.01 per cent during the month and were nearly nine per cent higher than a year earlier, making them one of the strongest year-on-year contributors to inflation.
Information and communication costs also increased in December, rising by 0.95 per cent, largely due to higher unit prices for mobile communication services. This monthly increase occurred despite the category remaining lower than its level a year earlier, indicating short-term price adjustments rather than sustained upward pressure.
These increases were partly offset by declines in housing, water, electricity, gas, and other fuels, which fell by 0.67 per cent during the month. Lower electricity unit costs were the main driver of this decline and continued to exert a dampening effect on overall inflation. Furnishings and household equipment prices also declined, reflecting softer demand and price corrections in non-essential goods.
Price movements differed notably between Malé and the atolls. In Malé, overall prices increased by just 0.04 per cent in December, with food-related price increases largely offset by falling electricity costs. In the atolls, prices rose by 0.33 per cent, driven by sharper increases in food items, particularly vegetables, fish, and imported produce. This divergence highlights the continued sensitivity of atoll markets to supply and transport-related price fluctuations.
On an annual basis, inflation pressures remained uneven across categories. Restaurant and accommodation services recorded a year-on-year increase of nearly five per cent, reflecting higher operating costs in the services sector. In contrast, housing and utility-related costs were more than three per cent lower than a year earlier, providing some relief to household budgets.
Overall, the December data points to a low-inflation environment heading into 2026, with price pressures concentrated in food and select service categories rather than broad-based cost increases. The combination of rising food prices and falling utility costs suggests that inflation risks remain contained but unevenly distributed, with households in the atolls more exposed to short-term price volatility.
