Malta hits record inflation rate in July but the lowest in Europe

LA VALLETTA (MALTA) (ITALPRESS/MNA) – Malta together with France has registered the lowest annual inflation rate when compared to the rest of the European countries. This was confirmed by the European agency – Eurostat when comparing July 2022 with the same month of last year.
While the average rate of inflation in the European Union states reached 9.8%, Malta has reached its record of 6.8% annual inflation.
The Baltic countries reached the highest rate of inflation – Estonia once again reached the highest annual rate, this time at 23.2 per cent, followed by Latvia, at 21.3 per cent, and Lithuania, at 20.9 per cent.
The largest contributors to annual inflation in Malta were food and non-alcoholic beverages, at 11.8 per cent, followed by housing, water, electricity, gas and other fuels, at 9.2 per cent.
On the other hand, the lowest annual inflation rates were registered in alcoholic beverages and tobacco (1.4 per cent) and communication (1.4 per cent). Italy reached the rate of 8.4%.
In July, the highest contribution to the annual euro zone inflation rate came from energy (+4.02 percentage points), followed by food, alcohol & tobacco (+2.08pp), services (+1.60pp) and non-energy industrial goods (+1.16pp).
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Source: medNews