Latest statistics reveal an increase in the prices of fish and food items over the past year.
According to the Consumer Price Index (CPI) for May released by the Maldives Bureau of Statistics, the highest price increase over the year was recorded in the transport sector, which saw a rise of 9.35 percent.
The CPI data shows that food prices rose by 5.86 percent within the year. During the same period, the price of skipjack tuna and other marine fish increased by 5.30 percent.
Within the transport sector, air travel saw the most substantial hike, with prices climbing by 5.6 percent. Meanwhile, the cost of sea transport rose by 0.81 percent.
Among food categories, meat prices experienced the sharpest increase at 8.71 percent. The prices of milk and eggs also saw significant hikes over the past year.
According to the statistics, the only sectors that saw a decline in prices over the year were clothing, information and communication, education, and furniture. Clothing prices decreased slightly by 0.62 percent, while communication services dropped by 0.70 percent. Education services saw a decline of 0.02 percent, and furniture prices fell by 0.25 percent.
The spike in transport costs is attributed to rising fuel prices driven by the conflict in the Middle East. Following the onset of the conflict in February, all airlines operating to the Maldives have increased their fares.
