Minister of Finance Ibrahim Ameer has stated that the consumer price index (CPI) used to calculate inflation in the Maldives is based on a survey conducted in 2016.
Responding to a question via a letter to the Parliament, Minister Ameer said the Maldives Bureau of Statistics (MBS) calculates inflation by using the index based on the price of goods and the 2016 survey on household income and expenditure. He highlighted that MBS collects data on the price of over 9,500 products from Male’ City and the atolls each month.
Additionally, Minister Ameer said MBS has published a report on its website, which has detailed information on how the CPI is calculated. He also said the weight set for petroleum products is 0.57%.
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