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