The Central Bank of Malta has reported that during the second quarter of 2022, 77% of respondents noted an increase in production prices and as a result, 61% of businesses had to increase their prices.
In a statement, the Central Bank highlighted how the majority of companies were affected by the war in Ukraine, mostly due to the increase in import costs. Additionally, 42% of the businesses responding to the survey plan on increasing their workforce, expressing their concern on the current lack of workers and pressure to increase wages.
As the summer season slowly begins to come to a close, 48% of businesses expect an increase in commercial activity over the coming months while 17% expect a drop.
During Q2, 92% responded that they proceeded with the scheduled investment plans while 5% had to postpone. The proportion of businesses which reported zero planned investment dropped to 3% when compared to the 18% of Q1.