Europe Experiences Drop In Inflation Rates – But How Does Malta Compare?
Inflation rates within the Eurozone have fallen steadily for the third consecutive month in a row.
Inflation is currently at an average of 8.5% through out Europe. Just last October, inflation rates were at 10.7%, an all-time high.
How does Malta compare to the rest of the Eurozone?
Surprisingly, with a decrease from 7.4% to 6.7% since last year, Malta’s inflation rates are statistically one of the lowest in the Eurozone when compared to the rest of the currency union. This is around half the average for Europe.
With these figures in mind, it becomes clear that, while neither the price of electricity nor gasoline significantly increased in Malta, the average inflation rate across Europe is primarily affected by the global jump in fuel prices.
Keeping this in mind, prices for goods and services continue to rise significantly faster than in Europe.
As inflation spreads over the globe because of the recent epidemic and ongoing wars, rising prices were following a pattern, but could we be seeing the end of it – or is it just the start for a devastating and long-lasting recession?
How do you intend to protect your finances given the current financial crisis and the recent spike in global tension?