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STATISTICS MALTA

Malta: -0.7% Annual Rate of Inflation

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MALTA 07 of infationIn February 2024, the annual rate of inflation as measured by the HICP was 3.0 per cent, down from 3.7 per cent in January 2024.

 

Price changes and effects on inflation

The highest annual inflation rates in February 2024 were recorded in Food and non-alcoholic beverages (6.8 per cent) and Education (5.6 per cent). On the other hand, the lowest annual inflation rates were registered in Communication (-9.8 per cent) and Recreation and culture (-1.0 per cent).

In February 2024, the largest upward impact on annual inflation was registered in the Food and non-alcoholic beverages Index (+1.22 percentage points), largely due to higher prices of milk. The second and third largest impacts were measured in the Restaurants and hotels Index (+0.61 percentage points) and the Housing, water, electricity, gas and other fuels Index (+0.41 percentage points), mainly on account of higher prices of restaurant services and rents, respectively.

The downward impacts on annual inflation were registered in the Communication Index (-0.39 percentage points) and the Recreation and culture Index (-0.09 percentage points), mainly reflecting lower prices of mobile phone services and package holidays, respectively.

HICP (Malta and euro area)

In February 2024, the annual rate of change registered by the Maltese All-items HICP was 3.0 per cent, 0.4 percentage points higher than the 2.6 per cent registered for the euro area.

 

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