Maldives inflation rate drop 0.2% in March

The rate of inflation, measured by the annual percentage change in the national Consumer Price Index (CPI), was recorded a negative 0.2% in March 2024, after registering a positive 1.1% in the preceding month.

The inflation rate change was reported by the Maldives Monetary Authority (MMA) on its latest Economic Update report published on Sunday.

According to the central bank, the largest contribution to the annual rate of inflation during March 2024 came from fish, following by vegetables, and passenger transport by sea.

Categories such as water supply, electricity and mobile communication services observed significant negative growth during the review month.

The monthly percentage change in the national CPI was recorded at negative 0.9% in the review month, after registering a positive 0.5% in February 2024.