A vendor at the local market: The inflation rate of the Maldives has dropped in July. FILE PHOTO
Statistics publicized by the Department of National Planning (DNP) show that the inflation rate of the Maldives had dropped during the month of July.
The statistics show that the inflation rate in the country stood at 16.06 percent in June. However the rate had dropped to 15.70 during the month of July.
The highest contributors to the decreased inflation were fish and food items. When compared with July of last year, this year the inflation rate had increased by 10.13 percent. The highest contributors to the increased inflation were fish, tobacco, hotel, restaurants and cafes.
Statistics show that the inflation rate as a whole for the country was at 16.19 percent this May while in April it was at 16.53 percent.
The most recent statistics show that the inflation rate in Male was close to 16 percent. The inflation rate has been increasing on a monthly basis recently.
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