Food inflation in Male' falls 1.9 percent

Inflation in the Male' region fell 1.9 percent in August, marking the sharpest monthly decline in two years, according to the Maldives Monetary Authority (MMA).

Compared to July, overall inflation in Male' declined 0.7 percent, with food inflation falling to 2.6 percent from 7.7 percent at the start of the year. Food prices in Male' have been easing for eight consecutive months.

MMA data shows both food inflation and overall inflation in the capital dropped by 0.2 percent in August. Inflation in Male' stood at 3.2 percent, driven down mainly by lower prices in electricity, water, and communication services.

In contrast, inflation across the atolls rose. Prices increased 0.8 percent in August, pushing overall inflation in the atolls to 5.6 percent, with food inflation hitting 6.8 percent due to sharp rises in the cost of food items and fish.

Nationwide, inflation stood at 4.1 percent in August.