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STATISTICS MALTA

Malta: annual inflation rate= - 0,1%

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POLITICSIn May 2024, the annual rate of inflation as measured by the HICP was 2.3 per cent, down from 2.4 per cent in April 2024. 

Price changes and effects on inflation

The highest annual inflation rates in May 2024 were recorded in Food and non-alcoholic beverages (4.8 per cent) and Education (4.8 per cent). On the other hand, the lowest annual inflation rates were registered in Communication (-11.7 per cent) and Recreation and culture (-0.3 per cent).

Inflation rates

In May 2024, the largest upward contribution to the overall annual inflation was registered in the Food and non-alcoholic beverages Index (+0.84 percentage points), largely due to higher prices of milk. The second and third largest contributions were measured in the Restaurants and hotels Index (+0.70 percentage points) and the Miscellaneous goods and services Index (+0.31 percentage points), mainly on account of higher prices of restaurant services and articles for personal hygiene, respectively.

The downward contributions to the overall annual inflation were registered in the Communication Index (-0.45 percentage points), the Recreation and culture Index (-0.02 percentage points) and the Clothing and footwear Index (-0.01 percentage points), mainly reflecting lower prices of mobile phone services, package holidays and footwear, respectively.

HICP (Malta and euro area)

This section compares the Maltese HICP with the latest data available for the euro area. In May 2024, the annual rate of change registered by the Maltese All items HICP was 2.3 per cent, 0.3 percentage points lower than the 2.6 per cent registered in the euro area.

 

ARTICLE WRITTEN BY NSO 

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