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STATISTICS MALTA

Malta: Annual Inflation Rate +3,7%

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antonio.jpgIn December 2023, the annual rate of inflation as measured by the HICP was 3.7 per cent, down from 3.9 per cent in November 2023.

Price changes and effects on inflation

The highest annual inflation rates in December 2023 were recorded in Food and non-alcoholic beverages (9.5 per cent) and Education (5.6 per cent). On the other hand, the lowest annual inflation rates were registered in Communication (-9.4 per cent) and Transport (0.1 per cent).

An impact is a measure showing the change in inflation as a result of the inclusion of an index. Such an impact takes into account both the weight and the annual rate of inflation by division.

In December 2023, the largest upward impact on annual inflation was registered in the Food and non-alcoholic beverages Index (+1.69 percentage points), largely due to higher prices of vegetables. The second and third largest impacts were measured in the Restaurants and hotels Index (+0.64 percentage points) and the Housing, water, electricity, gas and other fuels Index (+0.53 percentage points), mainly on account of higher prices of restaurant services and rents, respectively.

A downward impact on annual inflation was registered in the Communication Index (-0.38 percentage points), mainly reflecting lower prices of mobile phone services.

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