Malta was one of the 21 member states which saw their annual inflation rise in January, according to Eurostat. The annual inflation rate in January in the eurozone was 3.2 per cent, while that in Malta was 3.8 per cent. Two countries (Greece and Hungary) saw no change, while the inflation rate fell in four (Germany, Ireland, Luxembourg and Austria).
This is the first time that Malta's annual rate has been higher than that in the eurozone.
Five other eurozone countries have annual rates above the average, including Slovenia (6.4 per cent), which adopted the euro a year before Malta.
Countries waiting to join the eurozone are faring quite badly, including Slovakia (annual rate 3.2 per cent), which intends to adopt the euro on January 1, 2009. The highest rates are those in Latvia (15.6 per cent), Bulgaria (11.7 per cent) and Estonia (11.3 per cent).
Malta's 12-month moving average (which calculates the past 12 months over the previous 12-months and is the rate used in the Maastricht criteria), was the lowest in the EU, at 0.9 per cent compared to 2.3 per cent for the eurozone.
Eurostat said that the main component with the highest monthly rates in the eurozone was food (+1.1 per cent). Milk, cheese and eggs registered an annual increase of 12.9 per cent, while bread and cereals rose by 7.7 per cent. Fuel for transport rose by 15 per cent while heating oil rose by 30.7 per cent.
Eurostat's flash estimate of the eurozone inflation in February is 3.2 per cent, unchanged from January.
This is the first time that Malta's annual rate has been higher than that in the eurozone.
Five other eurozone countries have annual rates above the average, including Slovenia (6.4 per cent), which adopted the euro a year before Malta.
Countries waiting to join the eurozone are faring quite badly, including Slovakia (annual rate 3.2 per cent), which intends to adopt the euro on January 1, 2009. The highest rates are those in Latvia (15.6 per cent), Bulgaria (11.7 per cent) and Estonia (11.3 per cent).
Malta's 12-month moving average (which calculates the past 12 months over the previous 12-months and is the rate used in the Maastricht criteria), was the lowest in the EU, at 0.9 per cent compared to 2.3 per cent for the eurozone.
Eurostat said that the main component with the highest monthly rates in the eurozone was food (+1.1 per cent). Milk, cheese and eggs registered an annual increase of 12.9 per cent, while bread and cereals rose by 7.7 per cent. Fuel for transport rose by 15 per cent while heating oil rose by 30.7 per cent.
Eurostat's flash estimate of the eurozone inflation in February is 3.2 per cent, unchanged from January.