VALLETTA (MALTA) (ITALPRESS/MNA) – Malta’s annual inflation rate edged down in December but remained higher than both the EU and euro area averages, according to the latest official data. Eurostat figures show that inflation in the EU, as measured by the Harmonised Index of Consumer Prices (HICP), fell to 2.3% in December from 2.4% in November.
Inflation in the euro area dropped more sharply to 1.9%, down from 2.1%. Malta’s inflation rate stood at 2.4% in December, a slight decrease from 2.5% the previous month, figures from the National Statistics Office (NSO) show. Across the EU, Romania recorded by far the highest annual inflation rate at 8.6%, followed by Slovakia at 4.1% and Estonia at 4.0%. The lowest rates were registered in Cyprus (0.1%), France (0.7%) and Italy (1.2%).
Compared with November, inflation declined in 18 of the EU’s 27 member states, remained unchanged in three and increased in six. In Malta, food continues to be a key driver of inflation. The highest annual increases were recorded in education (4.3%) and food and non-alcoholic beverages (3.7%). By contrast, prices fell in communications (-5.5%) and clothing and footwear (-3.2%). Rising meat prices were the largest contributor to overall inflation, while higher restaurant prices and air fares also pushed rates up. The HICP, however, does not capture owner-occupied housing costs. It is set to be revised next month to include gambling under recreation, sport and culture.
– photo IPA Agency –
(ITALPRESS).
