News inflation / economic data Maldives Impact 6.0/10 2 min read

Lower-Than-Expected Inflation in 2023; Projections for 2024 Highest Since 2013

Data from Maldives Bureau of Statistics shows inflation was 2.02% in December 2023, lower than the projected 5.4% by Maldives Monetary Authority (MMA). Prices rose 0.39% in December. MMA revised forecast to 3.3% mid-year. Inflation peaked at 4% in March. Insurance and financial services rose 8%, communications fell 10.6%. Ministry of Finance projects 1% inflation for 2024, but if targeted subsidy is implemented, prices could rise 3.9%, the highest since 2013.

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Maldives Republic

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Jan 31, 2024

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📋 Story Brief

Data from Maldives Bureau of Statistics shows inflation was 2.02% in December 2023, lower than the projected 5.4% by Maldives Monetary Authority (MMA). Prices rose 0.39% in December. MMA revised forecast to 3.3% mid-year. Inflation peaked at 4% in March. Insurance and financial services rose 8%, communications fell 10.6%. Ministry of Finance projects 1% inflation for 2024, but if targeted subsidy is implemented, prices could rise 3.9%, the highest since 2013.

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Maldives Republic

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