Meat prices in Malé were more than 21 per cent higher in July compared to the same period last year, marking the sharpest annual increase among major food categories tracked in the latest Essential Commodities Price Index.

Data released by the Maldives Bureau of Statistics (MBS) shows meat prices increased by 21.43 per cent between July 2025 and July 2026. Prices, however, declined slightly by 0.71 per cent between June and July this year.

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The increase comes as the overall cost of essential commodities in Malé remains considerably higher than a year ago, despite prices easing during July.

The Essential Commodities Price Index (ECPI) stood at 120.37 in July, with prices falling 1.27 per cent compared to June but remaining 6.07 per cent higher than in July last year.

Food prices ease in July

Overall food prices declined by 1.81 per cent between June and July, driven largely by a sharp drop in vegetable prices.

Vegetable prices fell 10.89 per cent during the month, while fruit prices declined by 1.42 per cent. The decreases were partially offset by increases in milk, dairy products and eggs, which rose 0.95 per cent, and oils and fats, which increased 0.74 per cent.

Despite the monthly decline, food remained 5.89 per cent more expensive than it was a year earlier.

Vegetable prices, for example, were still 6.31 per cent higher than in July 2025 despite recording the significant month-on-month decline. Fruit prices were 2.21 per cent higher year-on-year.

Dairy, cooking oils and sweets cost significantly more

Several other everyday food categories also recorded notable annual increases.

Prices of sugar, jam, honey, chocolate and confectionery increased by 10.73 per cent over the year, while milk, other dairy products and eggs rose by 9.48 per cent. Oils and fats were 9.26 per cent more expensive than in July last year.

Cereals and cereal products recorded a comparatively smaller increase of 2.50 per cent, while fish prices rose by 2.13 per cent year-on-year.

Coffee prices jump 20%

Consumers are also paying substantially more for coffee.

While beverage prices as a whole increased by 5.75 per cent over the year, coffee and coffee substitutes recorded a 20.20 per cent increase compared to July 2025.

Fruit and vegetable juices were 5.89 per cent more expensive over the same period. During July alone, beverage prices increased by 0.35 per cent, including a 2.39 per cent rise in fruit and vegetable juice prices.

Gas remains 14.5% more expensive

Gas and other fuel prices remained unchanged between June and July but were 14.54 per cent higher than a year earlier.

Personal care products recorded more moderate increases, rising by 0.07 per cent during July and 2.87 per cent compared to July last year.

Index tracks 96 essential products

The ECPI measures price movements across a basket of 96 essential products, using 2,549 price quotations collected each month.

Food accounts for the largest share of the index at 70.94 per cent, followed by beverages at 14.20 per cent, personal care products at 8.43 per cent and gas and other fuel at 6.43 per cent.

MBS describes the ECPI as an early warning indicator for inflation in essential commodities and says it can also be used to inform price regulation.