In the first quarter of 2024, food inflation declined in Timor-Leste, and in March, it was estimated at 5.4 percent, almost six percentage points below the previous year levels. The average retail price of imported rice increased in February and March 2024, reaching US$19.5 for a 25kg bag or US$0.78/kg, 30 percent above the previous year’s values. Domestic maize prices rose 19 percent year on year amid increased demand and the expectation of a reduced maize output in 2024 due to the impact of El Niño and pest infestations. The cost of a basic food basket in March 2024 increased by 20 percent compared to a year earlier (from US$0.83 to US$1.00 per person per day).
