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STATISTICS MALTA

Malta: Inflation rate -0.2%

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Copia_di_Template_in_inglese_2.jpgPrice Changes and Effects on Inflation

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

In December 2023, the most significant upward impact on annual inflation was observed in the Food and non-alcoholic beverages Index (+1.69%), primarily due to the rise in vegetable prices. The second and third-largest impacts were measured in the Restaurants and hotels Index (+0.64%) and the Housing, water, electricity, gas, and other fuels Index (+0.53%), primarily attributed to the increased costs of restaurant services and rents, respectively.

A negative impact on annual inflation was registered in the Communication Index (-0.38%), mainly due to reduced prices for mobile phone services.

HICP (Malta and the Euro Area)

This section compares the Maltese Harmonized Index of Consumer Prices (HICP) with the latest available data for the Euro Area. In December 2023, the annual rate of change recorded by the Maltese All-Items HICP was 3.7%, which was 0.8 percentage points higher than the 2.91% registered for the Euro Area.

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