Malta, inflation and cost of living are higher than the EU average

LA VALLETTA (MALTA) (ITALPRESS/MNA) – Official statistics released by Eurostat show that the Maltese Government has not found an end to addressing the issue of the cost of living, as inflation and the burden of prices remained much higher than the average of the countries in the EU. Malta saw a slight dip in its annual inflation rate, settling at 2.7%. Although down from February’s 3.0%, it remains notably higher than the 2.4% registered in the euro area. According to statistics, countries such as Latvia, Italy, Denmark, Finland, and Lithuania, all have a better standard of living situation than Malta. Even Cyprus and Ireland registered cheaper prices on various products.
The governments of Germany and the Czech Republic also managed to control the cost of living while France has a cheaper cost of living rate than Malta. In March, the biggest impact resulted from the Food and Non-alcoholic Beverages Index (+1.02 percentage points), mainly due to higher milk prices. The second and third largest impacts were noted in the index of restaurants and hotels (+0.69 percentage points) and the index of accommodation, water, electricity, gas, and other types of fuels (+0.36 percentage points), mainly due to higher prices in restaurant services and rents.
– photo credsit: Malta Tourism Office –

Source: medNews