Consumer prices in the Maldives fell by 0.69 percent in March 2025 compared to February 2025, according to the latest Consumer Price Index (CPI) data released by the Maldives Bureau of Statistics. This follows a 0.27 percent rise recorded in February.
The monthly decline was largely driven by a sharp drop in electricity prices, which fell by 19.90 percent following a Ramadan discount offered to households. Information and communication services also contributed to the downward trend, with mobile communication costs decreasing by 2.12 percent during the month.
Housing, water, electricity, gas, and other fuels recorded a 3.61 percent fall overall, making it the sector with the most significant price drop. Meanwhile, furnishing and household equipment prices declined by 0.30 percent, transport costs by 0.16 percent, and personal care and miscellaneous goods and services by 0.01 percent.
In contrast, food and non-alcoholic beverages rose by 1.11 percent in March, mainly due to sharp increases in the prices of fruits such as papayas, bananas, and passion fruit, alongside rises in basic items like garlic, tuna, and young coconuts. Fish prices also edged up by 0.95 percent, driven by higher tuna and reef fish prices.
Over the past twelve months to March 2025, the CPI for all groups rose by 5.35 percent nationally, showing a slight acceleration from the 5.14 percent annual rate recorded in February. Year-on-year inflation was higher in the atolls (+5.86 percent) compared to Malé (+5.00 percent).
At the group level, the most significant upward pressure over the year came from the tobacco and aracanuts group, which surged by 88.94 percent. Conversely, information and communication costs fell by 6.31 percent year-on-year, providing some relief to overall household expenses.
Comparing regions, the fall in electricity prices was even more pronounced in the atolls, where the cost dropped by 24.39 percent, leading to a sharper overall monthly CPI fall of 0.81 percent compared to 0.61 percent in Malé. However, food prices increased more steeply in the atolls, rising by 2.15 percent compared to 1.04 percent in Malé.
Despite the month-on-month decline, the data indicates that underlying inflationary pressures remain relatively strong, particularly in food, tobacco, and accommodation sectors, pointing to continued cost pressures on households heading into the second quarter of 2025.
