Malta: Food inflation hits 8.4% in February

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Inflation continued to edge up in February, moving to 4.2% up from 4.1 per cent in January 2022.

A monthly comparison of inflationary components shows that the largest upward impact on annual inflation was measured in the Food and non-alcoholic beverages Index, with a 1.5% increase, NSO data shows.

When such analysis considers yearly differences, food tops increases by a staggering 8.4%, followed by housing, water, electricity, gas and other fuels (5.2%). On the other hand, the lowest annual inflation rates were registered in Communication (-1.6%) and Alcoholic beverages and tobacco (0.7%).

The NSO further dissects the food index, noting that the biggest ipact was from the higher prices of vegetables followed by prices charged by restaurants and hotels.

Despite the significant increase in overall inflation, Malta’s rate is actually the lowest in the EU on par with France. The highest annual rates were recorded in Lithuania (14.0%), Estonia (11.6%) and Czechia (10.0%).

The euro area annual inflation rate was 5.9% in February 2022, up from 5.1% in January. A year earlier, the rate was 0.9%. European Union annual inflation was 6.2% in February 2022, up from 5.6% in January. A year earlier, the rate was 1.3%. Compared with January, annual inflation fell in two Member States and rose in 25.

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