The average rate of inflation in Malta over the past 12 months was 3.3 percent, exactly the same as the EU, the Finance Ministry said this evening. Only one EU member state which joined the bloc with or after Malta had a lower rate – Slovakia which had 3.1%, the ministry said.
Replying to a statement by Labour finance spokesman Charles Mangion, the ministry said that like other countries, Malta was feeling the impact of higher oil and food prices. In some countries, the impact was higher, with inflation in Estonia, Lithuania, Bulgaria and Latvia in double digits.
Food price inflation in Malta was 1.1 percent higher than in the EU because Malta imported practically all its food. However the Consumer and Competition Division was keeping a watch on prices, with 12,655 visits by inspectors over the past six months.
Dr Mangion in his statement said inflation was the highest for years and one of the highest in the EU. He charged that a large portion of inflation was caused locally and not imported.