Malta Registers Lowest Annual Inflation Rate In EU Amid Economic Crisis
Malta has registered the lowest annual inflation rate in the EU, according to Eurostat – the statistical office of the European Union.
In general, the European Union annual inflation was 9.6% in June of this year, compared to a mere 2.2% in 2021.
However, Malta registered the lowest annual inflation rate at 6.1%. This was followed by France (6.5%), and Finland (8.1%).
Conversely, the highest annual rates were recorded in Estonia (22.0%), Lithuania (20.5%) and Latvia (19.2%).
When compared with May, annual inflation fell in two Member States (Gemrany and the Netherlands) and rose in the remaining 25. Meanwhile, the euro area recorded an annual inflation rate of 8.6% in June of this year, a rise from 8.1% in the previous month. A year ago, this number was at 1.9%.
In June, the highest contribution to the annual euro area inflation rate came from energy (+4.19 percentage points), followed by food, alcohol, and tobacco (+1.8 pp), services (+1.42 pp), and non-energy industrial goods (+1.15 pp).
Even though Malta has recorded the lowest rate in the EU, the island and its citizens are still suffering from the evergrowing effects of inflation. In fact, figures confirmed by the NSO indicated a price index rise from 4.5% to 5.4% in April.
A software developer has even created a new website that compares the prices of supermarkets’ prices in Malta. Meanwhile, a frustrated pensioner expressed his disillusionment in a video where he detailed his personal experiences with the rise in prices both in restaurants and when buying essential items.
What do you make of these numbers?
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