Malta: Consumer prices average lowest in 15 months

The Retail Price Index fell by 0.5 percent from April to May, closing at a rate of 103.43. Figures by the National Statistics Office show an annual rate increase of 0.66 percent compared with the same month last year, a decline from the 0.83 annual increase registered in April 2020. In fact, this was the smallest increase in the annual rate in the two years under review.

The twelve-month moving average rate stood at 1.30 percent in May, the lowest since February 2019 and continuing a gradual narrowing since reaching 1.73 percent in August last year.

Clothing and Footwear registered the highest rise month-on-month, climbing by 2.98 percent in May. Compared with the same month in 2019, though, the category fell by 1.42 percent, the second-highest decrease after Recreation and Culture (-2.38%).

On the other hand, the biggest increase from last year was observed in Housing, which grew by 2.09 percent, and Food, rising by 1.98 percent. The latter category includes restaurant services and take-aways. Compared with the previous months, however, the rise in Housing was 0.08 percent while Food decreased by 0.95 percent.