Malta: Inflation tops 7% in August, still lower than EU average

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Inflation has reached 7%, fresh data by the NSO has confirmed. The statistics office said that in August 2022, the annual rate of inflation as measured by the HICP was 7.0 per cent, up from 6.8 per cent in July.

The 12-month moving average rate for August stood at 4.3 per cent. As has been a constant over the past months, the largest upward impact on annual inflation was measured in the Food and non-alcoholic beverages index, which increased by 11.3%.

This was followed by Housing, water, electricity, gas and other fuels (9.2 per cent). On the other hand, the lowest annual inflation rates were registered in Clothing and footwear (0.4 per cent) and Communication (0.9 per cent).

The NSO pointed out that Malta’s inflation was 2.1 percentage points lower than the 8.9 per cent registered for the euro area.

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