Malta: Inflation rate drops below 1.0 percent

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The annual rate of inflation in May reflected in the Harmonised Index of Consumer Prices (HICP) was 0.9 percent, the lowest since 2018. Data by the National Statistics Office shows a consistent slowing inflation rate from March (1.2%) and April (1.1%).

The highest annual inflation rate was observed in Foods and Non-Alcoholic Beverages, which rose by 2.4 percent. Transport and Health registered increases of 2.3 percent and 2.2 percent, respectively. At the other end, the lowest inflation rate compared with May 2019 occurred in Education (-9.6%), followed by Clothing and Footwear (-1.6%) and Communication (-2.0%).

In April 2020, annual inflation was 0.8 percentage points higher than that for the euro area, which stood at 0.3 percent. Excluding prices for energy and unprocessed foods, however, the change in Consumer Price Index fell to 0.9 percent, 0.2 percentage points lower than the 1.1 percent registered in the euro area.

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