Inflation Maldives 2023
Average inflation: 2.9%
Current Inflation
Inflation is normal at 2.9%, around the ECB target.
Peak and Trough
The highest inflation was in January at 4.0%. The lowest inflation was in December at 2.0%.
- Highest month
- January: 4.0%
- Lowest month
- December: 2.0%
- Difference
- 2.0 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 5.8%. The lowest price increase was in Energy with an average of 1.3%.
- Highest increase
- Food: 5.8%
- Lowest increase
- Energy: 1.3%
Historical Context
Current inflation is 2.0% higher than the 5-year average of 0.9%.
- 5-year average
- 0.9%
- 10-year average
- 1.1%
- All-time high (2008)
- 12%
- All-time low (2004)
- -1.7%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by +0.6 percentage point.
- Change vs. previous year
- +0.6 percentage points
- Largest monthly swing
- January: +3.8 percentage points
ECB Target
Inflation is 0.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 4.0% | +3.8 |
| February | 3.9% | +3.3 |
| March | 4.0% | +2.9 |
| April | 3.9% | +2.7 |
| May | 2.8% | +0.3 |
| June | 2.5% | -2.7 |
| July | 2.4% | -0.1 |
| August | 2.4% | -0.2 |
| September | 2.6% | -0.5 |
| October | 2.6% | -0.3 |
| November | 2.1% | -0.7 |
| December | 2.0% | -1.4 |
| Average | 2.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.