In a concerted effort to combat rising food prices and ensure stability in essential food items across Malta, the government, in collaboration with supermarket owners and food importers, initiated the Stabbiltà initiative one month ago. Since its inception on February 1st, the scheme has aimed to alleviate the burden of increasing prices on consumers and foster a more sustainable local market.
During its first month, MaltaDaily’s Keane Cutajar met with Minister Silvio Schembri to ask some of the frequently asked questions on social media, about this new scheme.
You can view the full interview here.
Prime Minister Robert Abela and Minister for Economy, Enterprise, and Strategic Projects Silvio Schembri jointly announced this agreement during January, highlighting a unified commitment to stabilizing local prices and ensuring access to essential food products for all citizens.
The agreement, which covers 15 categories of vital food items, was crafted based on extensive studies to identify the most consumed products in Malta. This study was conducted during the final quarter of 2023. These categories include staples such as corned beef, cornflakes, cream crackers, various meats, frozen vegetables, beverages like black tea and instant coffee, and dairy products among others. Approximately 400 essential products fall under the purview of this agreement, ensuring that their prices will remain steady until the next year’s budget.
During the interview with MaltaDaily, Minister Schembri emphasized the significance of this initiative, particularly in the context of the current economic landscape. Despite a downward trend in inflation across Europe, Malta has experienced a slower decline, with Eurostat projecting food inflation in the EU to decrease from around 6% to 2.4%. The Stabbiltà initiative aims to address this discrepancy and shield Maltese consumers from the adverse effects of rising prices, explained Schembri.
Furthermore, during the past month, participating establishments have labeled the designated products clearly, signifying the reduced and stabilized prices. During February consumers could easily identify and access the items covered by the initiative.
Over 400 establishments enrolled in the Stabbiltà initiative.
#MaltaDaily