Prices of essential goods rose by 6.07 percent last month compared to July of the previous year, according to data released by the Maldives Bureau of Statistics.
The Essential Commodities Price Index (ECPI) published by the Bureau indicates that gas and fuel saw the most significant price hikes compared to July last year. By the end of last month, the prices of gas and fuel had surged by 14.54 percent year-on-year.
Food items recorded the second-highest increase, with prices rising by 5.89 percent compared to July last year. This was followed by beverages, including canned and bottled drinks, which saw a 5.75 percent increase over the same period.
Despite the year-on-year increase, the inflation rate for last month actually saw a 1.27 percent decline compared to the preceding month.
Overall food prices dropped by 1.81 percent in July compared to June, with the most notable decreases observed in the prices of vegetables and fruits.
Market data shows that vegetable prices fell by 10.89 percent last month compared to the previous month, while fruit prices decreased by 1.42 percent. However, the prices of milk and eggs rose by 0.95 percent, and cooking oil increased by 0.74 percent during the same period.
The Essential Commodities Price Index (ECPI) published by the Statistics Bureau tracks the prices of 96 items commonly used in daily life.
The Bureau's findings, which highlight the rising cost of living compared to last year, come at a time when the government is working to defend its efforts to manage inflation.
Expressing concern over the rising cost of goods, the opposition Maldivian Democratic Party (MDP) is currently preparing for a protest. The party has announced that the demonstration will take place in Male' on the night of August 13.
