Inflation in Male’ reaches nearly 10 percent: NPD

Inflation reached nearly 9.94 percent in Male’ in August compared to the same period last year, according to statistics from the National Planning Department, driven largely by increases in the price of fish.

According to the Consumer Price Index (CPI) figures, the price of fish rose 47 percent, followed by tobacco and betel (25 percent). Food prices rose 17 percent overall.

Skipjack tuna prices declined sharply in August, but other tunas, smoked fish and reef fish prices increased by more than 90 percent since July 2011. Local chili prices increased by 60 percent.

The change in the price of fish was the main factor behind the rise in inflation over the past year, CPI statistics show.

Recreation, culture, and housing equipment had a reverse effect on inflation annually with an average decrease of 0.37 percent.