In January inflation was about 10%, thus families were paying 10% more for their food products compared to previous months. This was excessive when compared to the European Union’s average of 4.8%. The Government decided to intervene and sign an agreement with importers and retailers to reduce the recommended retail price of 450 products, in 15 categories of foods in order to give stability to families so they can have peace of mind that the prices of their basic needs will remain stable.

The products varied from coffee to cereal and milk together with a selection of other products of different brands as well. In 4 months, the inflation rate has substantially decreased by more than half, currently slightly less than 5% giving stability to families. This has also led to a decrease in prices, especially seen in smaller retailers in our communities making certain products more accessible to consumers.

In addition to the 450 products, one could also observe a decrease in prices of other products trying to compete with those forming part of this initiative. Thus, this has led to a more competitive market in which families can access more advantageous prices whilst they have peace of mind that food will remain accessible to them.

This initiative has given stability and as a consequence curbed inflation in the long run, whereby it is foreseen that inflation will continue to diminish in the coming months. Stabbiltà is confirmed to continue until the next budget in October.

Please visit https://stabbilta.gov.mt/product/ for more information about Stabbiltà including the products it includes and shops from where you can buy them.

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