Country Report Maldives January 2020

Outlook for 2020-21: Inflation

In the first eight months of 2019 average year-on-year growth in consumer prices was almost flat. We believe that consumer prices will fall slightly in 2020, due in part to the influence of the peg between the rufiyaa and the US dollar, as well as softer global oil prices. In 2021, however, it will return to positive territory, averaging a modest 0.2%, driven in part by higher global oil prices.

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