Essential Commodity Prices in Malé Rise 6.07% Annually Despite July Decline
- The ECPI fell 1.27% between June and July 2026 but remained 6.07% higher than July 2025, standing at 120.37.
- July's decline was driven by food prices, which dropped 1.81%, with vegetables falling sharply by 10.89%.
- Annual increases persist across all major categories, including meat up 21.43% and gas and fuel up 14.54%.
Essential commodity prices in Malé declined during July, but the latest data indicates that households continued to face substantially higher costs than a year earlier.
The Essential Commodities Price Index (ECPI) fell by 1.27% between June and July 2026, while remaining 6.07% above its level in July 2025, according to the Maldives Bureau of Statistics. The index stood at 120.37, placing the average price of the basket around 20.37% above its November 2022 base level.
The monthly reduction was driven primarily by food prices, which declined by 1.81%. Food carries a 70.94% weighting in the ECPI, meaning its movement has a considerable effect on the overall index.
Vegetable prices recorded the sharpest monthly decline at 10.89%, while fruit prices fell by 1.42%. Prices also decreased for sugar and confectionery products, meat, other food products, cereals and fish. These reductions were partly offset by a 0.95% increase in milk, dairy products and eggs, alongside a 0.74% rise in oils and fats.
However, the annual figures show that the July decline has not reversed the broader increase in essential living costs. Food prices were 5.89% higher than in July 2025, led by a 21.43% increase in meat prices. Sugar and confectionery products rose by 10.73%, while dairy products and oils and fats increased by 9.48% and 9.26%, respectively.
Price pressures were also evident outside food. Beverages increased by 0.35% during July and by 5.75% annually. Coffee and coffee substitutes recorded a 20.20% annual increase, while fruit and vegetable juices rose by 5.89%.
Gas and other fuel prices remained unchanged during the month but were 14.54% higher than a year earlier. Personal care products rose by 0.07% monthly and 2.87% annually.
The figures suggest that July provided some short-term relief through lower fresh produce prices, particularly vegetables. Nevertheless, annual increases across every major component of the essential goods basket indicate that the underlying cost of everyday necessities remains elevated.
