Inflation in May drops to 1.4 per cent

The inflation rate in May stood at 1.4 per cent, down from 1.8 per cent in the previous month, the National Statistics Office said.

The Harmonised Index of Consumer Prices in May this year was 103.76, up by 0.7 per cent over the previous month.

The 1.4 per cent figure is the second lowest in the EU, according to Eurostat, which also published figures yesterday.

Eurostat also said Malta had the lowest annual inflation rate in the EU last month, with -1 per cent, while France and Sweden also scored highly with 1.2 per cent. The highest rates, on the other hand, were in Hungary (8.4 per cent), Latvia (7.8 per cent) and Estonia (5.9 per cent).

The EU's statistical arm said annual inflation rose in 11 member states, remained stable in three and fell in 12. Inflation in the euro area remained stable at 1.9 per cent and dropped marginally to 2.1 per cent in the whole of the EU.