Department of National Planning (DNP) has stated that the inflation rate of the Maldives within the month of May this year was at 16.19 percent than that of the same month last year.
The statistics show that the inflation rate of Maldives from April last year to April this year was at 16.53 percent. Comparing the same period with May last year to the month of May this year, the inflation had decreased by 0.34 percent.
With the exclusion of fish products the inflation rate from May 2011 and May 2012 was at 12.60 percent. In comparison with May of last year and the same month this year inflation rates increased by 8.23 percent. An overall price hike was observed from construction materials, tobacco, household items, cafes, restaurants, goods and services were the major contributors to the increase in prices.
The latest statistics revealed that the Male inflation rate was increased by 4.07 percent between May and June. While the inflation rate recorded in Male last month was at 14.66, the inflation rate for the month of May was 14.69 percent.
The inflation rates have been increasing by the month from last year. However, the inflation rate had also decreased in some months.