Malta: Food prices drive inflation levels above 5%

In April 2022, the annual rate of inflation as measured by the HICP edged up further, reaching 5.4%, up from 4.5% March, the NSO said.

As a result, the 12-month moving average rate for April stood at 2.1%. The highest annual inflation rates in April 2022 were recorded in Food and non-alcoholic beverages (9%) and Housing, water, electricity, gas and other fuels (8.6%). On the other hand, the lowest annual inflation rates were registered in Communication (-1.8%) and Alcoholic beverages and tobacco. Malta’s cost of living rate is however the lowest in the EU.

The euro area annual inflation rate was 7.4% in April 2022, stable compared to March. A year earlier, the rate was 1.6%. European Union annual inflation was 8.1% in April 2022, up from 7.8% in March. A year earlier, the rate was 2.0%. These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in France, Malta (both 5.4%) and Finland (5.8%). The highest annual rates were recorded in Estonia (19.1%), Lithuania (16.6%) and Czechia (13.2%). Compared with March, annual inflation fell in three Member States, remained stable in two and rose in twenty-two.