Malta had the second lowest inflation rate in the eurozone in January. At just 1.5 per cent, it was more than a full percentage point lower than the average.

Ireland was the only member state in the eurozone which managed a lower rate: 1.3 per cent.

While Malta’s inflation rate has gone down from the 3.3 per cent a year ago, the eurozone’s as a whole has risen from the 2.3 per cent it registered in January 2011.

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