Prices of essential commodities in Male’ rose in February, driven largely by increases in food prices, particularly fruits and vegetables, according to the latest Essential Commodities Price Index published by the Maldives Bureau of Statistics.
The ECPI for Male’ reached 116.08 in February, marking a month-on-month increase of 1.54 percent compared with January. On an annual basis, prices were 1.04 percent higher than in February last year.
Food prices played the largest role in the increase. The food category rose by 2.06 percent compared with the previous month, reflecting higher prices across several commonly consumed items. Fruit prices recorded the most significant jump, increasing by 9.57 percent during the month, while vegetable prices rose by 3.46 percent.
The increase in food prices was partly offset by a decline in fish prices, which fell by 1.03 percent in February. Other food products also recorded a slight decrease.
Beverage prices registered a modest increase of 0.15 percent compared with January. The rise was mainly linked to higher prices for coffee and coffee substitutes, which increased by 0.84 percent, and fruit and vegetable juices, which rose by 0.56 percent.
Gas and other fuels also contributed to the overall increase, rising by 0.85 percent during the month. However, compared with February last year, prices in this category were slightly lower.
Personal care products were the only major category to record a decline in February, with prices falling by 0.33 percent from the previous month.
Year-on-year trends show that price pressures remain relatively moderate across essential commodities. Food prices were 0.64 percent higher than a year earlier, while beverages increased by 2.40 percent over the same period. Personal care products recorded a larger annual increase of 3.28 percent.
Within the food category, some items recorded notable annual increases. Prices for sugar, jam, honey, chocolate and confectionery rose by 6.94 percent compared with February last year, while fruit prices increased by 4.94 percent and oils and fats by 3.90 percent. These increases were partly offset by a sharp annual decline in vegetable prices, which fell by 9.61 percent.
The ECPI tracks the price movement of essential commodities using a basket of 96 products collected from more than 2,500 price quotations each month. Food carries the largest weight in the index, accounting for more than 70 percent of the basket, meaning movements in food prices have a significant influence on overall essential commodity inflation.
The February increase suggests that food prices remain the primary driver of short-term fluctuations in the cost of essential goods in Male’. With food representing the largest share of household spending on basic commodities, price movements in this category continue to shape overall trends in the index.
