Malta's Inflation Rises to 2.1% in July, Remains Below EU Average
· Updated
In brief
- Malta's annual inflation rate reached 2.1% in July, marking a slight increase from the previous month.
- This rise is primarily driven by higher prices in food, restaurants, and accommodation sectors.
- Despite the increase, Malta's inflation rate remains lower than the EU average of 3% and the Euro area's 2.9%.
Malta's annual inflation rate saw a slight increase in July, reaching 2.1%. This figure is 0.1% higher than the rate recorded in June.
According to the National Statistics Office (NSO), the rise in inflation is largely attributed to consistent increases in the cost of food. Other significant contributing factors include prices in the restaurant and accommodation sectors.
Despite this local increase, Malta's inflation rate remains considerably lower than the broader European averages. The European Union (EU) reported an average inflation rate of 3% for July, while the Euro area's rate stood at 2.9%.
The Euro area's inflation rate in July marked an increase from 2.8% in June and 2% a year earlier. Countries like Romania and Lithuania reported significantly higher inflation rates, at 8.2% and 5.4% respectively.
The Spin Room
Low media divide. All outlets reported this economic development consistently without notable framing differences.
Updates
- : Updated with reporting from TVM News and ONE News, highlighting Malta's rank as having the second-lowest inflation rate in the Eurozone.