Inflation rose in May, data released by the Maldives Bureau of Statistics (MBS) has revealed. Prices of goods and services rose 1.51 percent when compared to April, and 0.77 over the same period last year, according to the agency’s Consumer Price Index.

Excluding changes in tuna prices, inflation stood at 1.69 percent in May, data revealed.

Inflation for other goods and services were recorded at;

Goods & ServicesPercentage Increase in Inflation
Electricity 37.44
Water Supply 45.70
Meat and Poultry 0.54

Fruits, vegetables and tuna, however, saw prices fall — fruit prices fell by 4.17 percent, prices for vegetables by 0.84 percent, and tuna prices falling by 1.91 percent.

Air transport fares also decreased by 2.71 percent, while fuel and lubricants saw a decline of 4.33 percent.

Meanwhile, the Sovereign Development Fund (SDF), as of 20 June, accumulated MVR 519 million, according to data by the Ministry of Finance; a 4.0 percent increase over the MVR 499 million collected over the same period last year.

The Fund, which was created to bolster the Maldives’ ability to repay loans in instances of economic shock and is expected to accumulate receipts of MVR 1 billion by the end of the year, will see its reserves utilised for loan repayments due in 2025 and 2026, the administration said.