 |
| Source: Department of National Planning |
Inflation refers to a persistent
rise in the general price level. Inflation in the Maldives is measured by the Consumer
Price Index (CPI). The CPI shows a weighted average of the prices of a general
‘basket’ of goods and services purchased by consumers. Each product in the
index is weighted according to its relative importance (price relative) in the
total consumer expenditure.
Department of National Planning
has reported on Monday (February 25, 2013) that the island country depending on
foreign imports has experienced an Annual CPI of 4.33 per cent for the last
year (from January 2012 to January 2013). Despite the arguments put forth against
rising price level by the then opposition in January 2012 to continue strike
until the previous government was toppled on 7th February 2012, ordinary
Maldivians are adversely affected in the post coup 12 months.
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| Cost of Education rose by 22.84% over the year |
The worst hit area is ‘Post-secondary
non-tertiary education’ (+22.84%) which laid a huge burden on the poor self-financed
students residing in Capital Male for their higher education as higher
education is highly centralized to the Capital. These students are forced to
spend their family income for rent and food in the world’s most densely
populated capital city, leaving their siblings in the rural islands fighting
for their daily bread.
Prices of goods and services
related to Pre-primary and primary education increased by 10.40% reducing the
affordability for the low income islanders who mainly depend on fisheries for living.
 |
| Pensioners are worst hit due to soaring inflation |
These soaring prices of goods and
services related to Pre-primary, Primary and Post Secondary education has changed
the living of the fixed income groups into miseries. The purchasing power of
the pensioners and the old who depend on the monthly state pension of MVR 2000 is
now exposed to vulnerability due to the rise in education cost accompanied with
the 6.65% rise in the prices of games and toys that they buy for their grad
children.
On the other hand, the richest 100 people who control
the whole economy have enjoyed a significant rise in their income as they
directly increased the prices of the goods and services before the present
paralyzed government. This has increased the income gap between the rich and
the poor giving birth to a new form of class struggle.
Source: Department of National Planning
