The Consumer Price Index (CPI) in the Maldives fell by 1.15 per cent in August compared with July, reflecting a decline in the prices of goods and services, the Maldives Bureau of Statistics (MBS) has reported.

The decrease was mainly driven by a 3.21 per cent reduction in electricity prices and a 2.80 per cent drop in air transport fares. Tobacco prices also fell significantly, declining by 25.45 per cent.

The CPI declined by 1.57 per cent in Malé and 0.54 per cent in the atolls.

Despite the overall decline, prices increased in several essential goods and services. Milk and egg prices rose by 1.99 per cent, while fruit and vegetable prices increased by 1.19 per cent and fish prices by 0.83 per cent.

Prices also rose for guesthouse services by 2.72 per cent, communication services by 2.23 per cent, health services by 0.99 per cent, and restaurant, café and hotel services by 0.68 per cent.

Despite the month-on-month decline, prices remained 0.76 per cent higher than in August last year.

MBS collects and analyses prices of more than 9,500 goods and services every month from Malé and the atolls to monitor changes in the cost of living.