Food prices have risen to the highest since the year began, data from the Maldives Monetary Authority (MMA) has shown.
Inflation stood at 1.4 percent at the end of June, up from 0.8 percent in May; a month-on-month hike of 0.6 percent.
While inflation first rose above 1.0 percent in February, it has remained lower in other months with a decline in March and April.
Inflation for the first six months of the year was broken down as:
| Month | Percentage Rise in Inflation |
| January | 0.9 |
| February | 1.1 |
| March | -0.2 |
| April | -1.1 |
| May | 0.8 |
| June | 1.4 |
Statistics show that the biggest contributor to inflation was the rise in prices of vegetables, fruits and fish.
The percentage rises in food products over the month were documented as:
| Product Category | Percentage Rise in Inflation over June |
| Vegetables | 0.46 |
| Fish | 0.45 |
| Fruits | 0.17 |
In addition, marine transportation, hospital fees, and electricity prices rose. Electricity prices rose 0.15 percent compared to May, with both hospital fees and dairy prices rising 0.11 percent.
The main reason for the price hikes was attributed to the appreciation of the US dollar.
Traders who spoke with local media on condition of anonymity said the main reason for the rise in prices was the difficulty in obtaining US dollars and the appreciation of the dollar.
The dollar is now trading above MVR 18 to US$1 in the parallel market, traders say.
In addition, some traders spoke of congestion in transit cargo ports and delays in bringing goods in to the Maldives.
“The main reason is the price of the dollar. However, there are also shipping delays,” a businessman was quoted as saying.
Prices did, however, decline for household goods, airline tickets and communication services.
