Malta had one of the lowest annual inflation rates in the euro area last month,  statistics published in Brussels this morning show.

According to Eurostat, the EU’s statistics arm, Malta’s annual rate of inflation in October stood at 2.4 per cent, 0.3 per cent less than in the preceding month.

On the other hand, inflation in the rest of the euro area remained stable in October, at 3 per cent, the same as in September.

Eurostat said that Malta’s annual inflation in October was the second lowest in the euro area. The only other member state with a lower inflation than Malta’s was Ireland, with an inflation rate of 1.5 per cent.

On the other hand, during October, the euro area continued to experience high inflation rates, with Estonia (4.7 per cent), Slovakia (4.6 per cent) and Portugal (4 per cent) topping the list.

The situation is worse when taking the EU as a whole as in October the average annual rate of inflation in the 27 member states climbed to 3.4 per cent, a full percentage point more than Malta.

The UK, one of Malta’s main trading partners, is experiencing the worst level of inflation in the EU so far, registering an annual rate of 5 per cent in October.

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