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Annual Inflation In Malta Down By 3.3%, EU Statistics Show

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Malta’s inflation rate recorded for November 2023 has decreased by 3.3% since the same month last year, slightly above the EU’s average, a Eurostat survey shows.

Back in 2022, Malta registered an annual inflation rate of a whopping 7.2% which dropped to 3.9% last month.

 

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A consistent monthly decrease was recorded between June 2023 and November 2023, garnering a monthly rate of -2.9%.

Meanwhile, the annual inflation rate in the EU as a whole stands at 3.1%, down from 3.6% in October and 11.1% a year earlier.

Meanwhile, that of the euro area has dropped down to 2.4% in November 2023 compared to 2.9% in October and 10.1% the previous year.

The lowest annual rates were registered in Belgium (-0.8%), Denmark (0.3%) and Italy (0.6%). The highest annual rates were recorded in Czechia (8.0%), Hungary (7.7%), Slovakia and Romania (both 6.9%). Compared with October, annual inflation fell in twenty-one member states, remained stable in three, and rose in three.

In November, the highest contribution to the annual euro area inflation rate came from services (+1.69%), followed by food, alcohol tobacco (+1.37%), non-energy industrial goods (+0.75%), and energy (1.41 %).

What do you make of these numbers?

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Ana is a university graduate who loves a heated debate, she’s very passionate about humanitarian issues and justice. In her free time you’ll probably catch her binge watching way too many TV shows or thinking about her next meal.

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