Consumer prices remained unchanged in November 2025, signalling a pause in month on month inflation after several months of volatility, according to the latest Consumer Price Index released by the Maldives Bureau of Statistics.
The all groups CPI recorded a 0.00 percent change compared to October, reversing the 0.17 percent decline seen in the previous month. While headline inflation stalled, underlying price movements reveal diverging trends across food, transport, and services, with sharper contrasts between Malé and the atolls.
On a year on year basis, inflation slowed markedly. Prices in November 2025 were 1.36 percent higher than a year earlier, a steep drop from the 3.86 percent annual increase recorded in October. This deceleration reflects easing price pressures in several major categories, particularly housing and utilities, information and communication services, and transport.
Food prices edged up by 0.11 percent during the month, driven largely by increases in vegetables and fish. Fish prices rose by 0.66 percent, with tuna prices increasing by 3.51 percent, although this was partly offset by a sharp fall in tuna curry cut prices. Vegetables recorded the largest single category increase, rising by 2.29 percent, while fruit prices fell by 1.88 percent, helping contain overall food inflation.
Transport costs increased by 0.23 percent, mainly due to higher international airfares, which rose by over three percent nationally. Housing, water, electricity, gas, and other fuels rose marginally by 0.02 percent, as higher electricity charges were partially offset by lower water prices.
Several categories recorded declines. Tobacco and areca nut prices fell by 0.91 percent during the month, while restaurant and accommodation services declined slightly by 0.03 percent. Clothing and footwear prices also edged down by 0.02 percent, continuing a broader downward trend seen over the past year.
Regional price movements showed a clear split. In Malé, the all groups CPI fell by 0.30 percent in November, largely due to falling food prices, particularly fruits, eggs, and staples. In contrast, prices in the atolls increased by 0.45 percent, driven primarily by rising food costs, with significant increases recorded for tuna, vegetables, and coconuts. This divergence highlights persistent differences in supply conditions and price transmission between the capital and outer islands.
Over the past twelve months, the sharpest price increases nationally were recorded in tobacco and areca nuts, which rose by 18.68 percent, followed by restaurants and accommodation services at 5.59 percent. The largest annual decline was seen in housing, water, electricity, gas, and other fuels, which fell by 2.89 percent, easing cost pressures for households.
Taken together, the November data suggests inflationary pressures have softened significantly heading into the end of the year, although food prices and air travel costs continue to show sensitivity to supply and seasonal factors.
