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At 7.4%, Malta's annual inflation rate for September is 2nd lowest in euro area
The annual rate of inflation as measured by the Harmonised Index of Consumer Prices in September was 7.4%, up from 7% in August, the National Statistics Office said.
It said that the 12-month moving average rate for September stood at 4.8%.
The largest upward impact on annual inflation was in the food and non-alcoholic beverages index.
According to Eurostat, Malta’s annual rate in September was the second lowest in the euro area, after that registered in France (6.2%).
The euro area annual inflation rate was 9.9%, up from 9.1% in August.
A year earlier, the rate was 3.4%.
European Union annual inflation was 10.9% in September, up from 10.1% in August. A year earlier, the rate was 3.6%.
The HICP measures monthly price changes in the cost of purchasing a representative basket of consumer goods and services. It is calculated according to rules specified in a series of European Union (E regulations that were developed by Eurostat in conjunction with the EU states.
The HICP is used to compare inflation rates across the EU. A closely related measure of price movements is the Retail Price Index.
ARTICLE WRITTEN BY TIMES OF MALTA
FOLLOWING THE UPDATES ON TIMES OF MALTA
