Recent statistics reveal that Malta’s annual inflation rate ranks joint eighth among EU member states, surpassing the EU average.
According to Eurostat data, Malta recorded a 3.7% inflation rate last month, marking a notable decrease from the previous year’s 6.8%, yet remaining above the EU average of 3.1%. Notably, when Malta’s inflation was at 6.8%, the EU average was 8.6%.
The National Statistics Office (NSO) data for January 2024 highlights the sectors contributing significantly to inflation. Food and non-alcoholic beverages saw the highest annual inflation rates at 10.1%, followed by Education at 5.6%. Conversely, Communication and Clothing and footwear experienced negative inflation rates.
Comparatively, Romania, Estonia, Croatia, Poland, Slovakia, Austria, and Bulgaria reported higher inflation rates than Malta, while Hungary matched Malta’s rate.
In contrast, Denmark, Italy, Latvia, Lithuania, and Finland reported the lowest inflation rates, ranging from 0.9% to 1.1%.
It’s essential to note that these figures pertain to January and do not reflect the impact of the Stabbiltà food price reduction initiative, which took effect in February.
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