The Maldives Monetary Authority (MMA) has reported that the rate of inflation, measured by the annual percentage change in the national Consumer Price Index (CPI), decreased to -0.2% in March 2024.
This follows a positive 1.1% recorded in the previous month.
MMA disclosed this alteration in the inflation rate in its latest Economic Update report released yesterday.
According to the central bank’s findings, fish were the primary contributors to the annual rate of inflation for March 2024, followed by vegetables and passenger transport by sea.
Conversely, categories such as water supply, electricity, and mobile communication services experienced notable negative growth during the same period.
Furthermore, the monthly percentage change in the national CPI stood at negative 0.9% in March, a reversal from the positive 0.5% recorded in February 2024.
