Malta: Slimmest inflation rate in 24 months

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The annual inflation rate in April was 0.83 percent, the lowest increase in the two years under review by the National Statistics Office. The change in cost of purchasing from March, reflected in the monthly Retail Price Index, was of 0.23 percent.

The highest rate of inflation was observed in the foods category, which includes restaurant services, rising by 2.75 percent from April 2019. Housing registered the second highest increase of 2.04 percent.

Clothing and footwear, utilities and fuels, household goods and services, and recreation and culture witnessed the narrowest increases year-on-year, with the last two categories registering the lowest inflation rates at -1.50 percent and -2.18 percent, respectively.

The main contributor to inflation over the past twelve-month period was foods which registered an increase of 0.59 percentage points, driven mainly by higher prices in vegetables. A rise of 0.18 percentage points in transport and communication services, and of 0.16 percentage points in housing were the other two major factors.

A dip in prices was recorded in private school fees, furniture, and footwear over the same period, leading the downward impact on annual inflation and resulting in a decrease of 0.22 percentage points in recreation and culture; 0.10 percentage points in household goods and services; and 0.08 in clothing and footwear.

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