Malta’s inflation rate is above the Eu average
LA VALLETTA (MALTA) (ITALPRESS/MNA) – The annual inflation in Malta during the month of July continued to be over the eurozone average. This was confirmed by the Eurostat agency in its latest data released recently. Eurozone annual inflation this month was 5.3% while Maltàs rate was 5.7%. The main components of eurozone inflation were food, alcohol & tobacco (10.8%, compared with 11.6% in June), followed by services (5.6%, compared with 5.4% in June), non-energy industrial goods (5%, compared with 5.5% in June) and energy (-6.1%, compared with 5.6% in June). The energy component is practically insignificant in Maltàs case since energy prices have been frozen, with the government covering higher prices through subsidies. Annual inflation in Malta has nudged higher than the eurozone average since May, as international oil prices started to fall.
In April, the average annual euro area inflation was 7% while Maltàs was 6.4%. Maltàs inflation was also higher than the Eurozone average for all previous months of the year.
In January, Eurozone annual inflation stood at 8.8% while Maltàs was 6.8%.
– photo: Angezia Fotogramma –