Malta, decrease in inflation but higher than the Eurozone average

LA VALLETTA (MALTA) (ITALPRESS/MNA) – While Malta registered its highest annual inflation rates in food and non-alcoholic beverages last month due to higher prices of bakery products, the inflation rate decreased to 5.6% from 6.2%. Data published by the National Statistics Office (NSO) also shows that the inflation rate in Malta is lower than the European Union average but its average rate is higher than that in the Eurozone. Meanwhile, Eurostat data also indicated that Maltàs inflation rate for July was slightly lower than Sloveniàs (5.7%), but slightly higher than the Netherlands’ (5.3%). The highest annual inflation rates were observed in Hungary (17.5%), Slovenia, and Poland (10.3%). The lowest annual rates were reported in Belgium (1.7%), Luxembourg (2.0%), and Spain (2.1%). The Eurostat report said the most significant upward impact on the annual Euro area inflation rate in July came from services, followed by food, alcohol, and tobacco, non-energy industrial goods, and energy. In Malta, the largest upward impact on annual inflation was seen in the food and non-alcoholic beverages index primarily due to higher prices of bakery products. The second and third most significant impacts were observed in the Restaurants and Hotels Index and the housing, water, electricity, gas, and other fuels Index. This was mainly due to higher prices of restaurant services and rents, respectively. Downward impacts on annual inflation were registered in the Communication Index and the Clothing and Footwear Index.
– Photo credit: Agenzia Fotogramma –

Source: medNews