Inflation stable but food prices rising – NSO

In December 2020, the annual rate of inflation in Malta as measured by the Harmonised Index of Consumer Prices (HICP), remained at a constant rate of 0.2 per cent the NSO said today.

Low inflation rates have dominated the scene throughout 2020 with business activity levels suffering a significant hit with the onset of the coronavirus pandemic.

The twelve-month moving average rate for December stood at 0.8 per cent. he largest upward impact on annual inflation was measured in the Food and Non-alcoholic Beverages Index, which the NSO attributed to higher prices for fruit. The largest downward impact was recorded in the Clothing and Footwear Index.

In a separate release by Eurostat today, annual inflation remained stable at -0.3% in the euro area for the fourth consecutive month. A year earlier, the rate was 1.3%. European Union annual inflation was 0.3% in December 2020, up from 0.2% in November.

The lowest annual rates were registered in Greece (-2.4%), Slovenia (-1.2%) and Ireland (-1.0%). The highest annual rates were recorded in Poland (3.4%), Hungary (2.8%) and Czechia (2.4%). Compared with November, annual inflation fell in nine Member States, remained stable in eight and rose in ten.

via NSO/Eurostat