Inflationary pressure in the Maldives eased sharply in May, with consumer prices rising at a far slower pace than the previous month, although food and transport costs continued to place upward pressure on household expenses.
The Consumer Price Index rose by 0.20% in May 2026 compared with April, according to the Maldives Bureau of Statistics. This marks a significant slowdown from the 3.82% month-on-month increase recorded in April.
On an annual basis, the CPI rose by 2.54% in May compared with the same month last year, broadly unchanged from the 2.55% year-on-year increase recorded in April. The index excluding fish rose by 0.28% during the month.
The main upward pressure came from food and beverages, which increased by 1.07% month-on-month. Transport prices also rose by 1.12%, driven mainly by higher international airfares and sea transport costs. International airfare recorded a 17.75% increase during the month, while other sea transport rose by 1.08%.
Within food, notable increases were recorded for frozen chicken, Githeyo Mirus, mango, young coconut, eggs, flavoured milk packets, apples, onions, smoked fish, yoghurt and cucumber. The overall rise was partly offset by lower prices for tuna, dry coconut, reef fish, grapes, tuna curry cut, papaya and lime.
Food prices remained one of the strongest contributors to annual inflation. Food and beverages, including fish, rose by 5.86% over the twelve months to May 2026, while fish prices alone were up 5.30% year-on-year despite falling by 1.10% during the month.
Transport recorded the highest annual increase among major categories, rising by 9.35% compared with May 2025. The annual increase suggests that transport-related costs continue to weigh on inflation even when monthly movements remain moderate.
Several categories helped contain the overall monthly increase. Housing, water, electricity, gas and other fuels fell by 0.66%, mainly due to lower unit prices for electricity and water. Information and communication declined by 0.50%, while clothing and footwear fell by 0.27%. Recreation, sport and culture also declined by 0.11%.
Electricity recorded the largest monthly price drop at 3.77%, followed by fuels and lubricants for personal transport equipment, which fell by 4.54%. Mobile communication services declined by 0.97%, while water supply fell by 0.39%.
Price movements varied between Male’ and the atolls. The all-groups CPI rose by 0.31% in Male’ and 0.05% in the atolls during May. In both areas, food and beverages were the main positive contributor, while housing, water, electricity, gas and other fuels acted as the main negative contributor.
On a year-on-year basis, inflation was higher in the atolls than in Male’. CPI increased by 3.59% in the atolls, compared with 1.83% in Male’. At the national level, the index stood at 110.02 in May, with Male’ at 108.68 and the atolls at 112.02, based on November 2022 as the base period.
The May figures indicate that the sharp price jump seen in April did not continue into the following month. However, annual increases in food and transport suggest that essential household expenses remain exposed to cost pressures, particularly in areas linked to imported goods, travel and logistics.
