Malta’s inflation rate has risen once again, increasing from 6.1% to 6.5% in July, hitting another high alongside several other countries in Europe.
The latest figures, revealed by the European Union statistics agency, have re-affirmed a rising trend that has carried on growing. Malta’s inflation rate was 4.2% last February.
More than a few countries using the euro hit a new record this month, as rising energy costs (39.7%) continue taking their toll.
Malta, like many other countries, is also witnessing price hikes in food, drink, and the cost of living in general.
19 countries making part of the Eurozone have seen a record annual inflation of 8.6% rise to 8.9%
The numbers make it the highest level since 1997, when record-keeping for the euro began.
As inflation hits Malta with the whole world feeling the knock-on effects of the war in Ukraine and the post-pandemic economic recovery, rising prices are becoming the norm.
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What do you make of these figures?