Many local suppliers expect prices to inflate during Ramadan.
Local suppliers cite the difficulties in procuring items during the pandemic and shortage of US Dollars in the Maldives economy as the main two reasons for the price inflation which would struggle to keep up with the demand.
However, businesses assure that all the necessary items will be available to keep up with the demand.
Major suppliers have raised concerns regarding the shipment delays and the slow port clearance.
They further complained that Bank of Maldives (BML) have restricted issuing large number of US dollars to procure necessary stocks which in turn force these suppliers to purchase US Dollars on the black market for much steeper rates.
The shortage in US Dollars have inflated the prices of several everyday items especially during the pandemic.