Business

Inflation rate declined this October

The inflation rate has dropped by 0.45 per cent in October, reports the National Bureau of Statistics.

According to the Bureau, inflation for September was at 0.68 per cent. And excluding the changes in the price of fish, the inflation was at 0.59 per cent, which, in September, was at 0.29 per cent.

The most significant decrease in price was from vegetables (-23.82%), followed by Equipment for the reception, recording and reproduction of sound and picture (-1.80%). Prices for milk, cheese and eggs were at (-1.22%). Other changes in price included that of garments (0.89%), motorcycles (-0.50%) tobacco (-0.25%) and fruits (0.24%).

On the other hand, a significant rise in prices was recorded for passenger transport by air (+5.44%), fuels and lubricants (+4.60%), Fish (+1.10%) and actual rentals paid by tenants (+0.65%). Other groups of products such as Bread and cereals ( +0.20%), articles and products for personal care (+0.15%), materials for the maintenance and repair of the dwelling (+0.21%), Aracanut (+0.57%), mineral waters, soft drinks, fruit and vegetable juices (+0.28%) had also notably increased in price.

Even though the inflation rate dropped from September to October, the inflation rate was 0.04 per cent higher compared to October 2017.

Full details are available at the link below:

Source URL: Corporate Maldives

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