Inflation down by 0.1% in June: NSO

Malta’s annual inflation stood at 2.2% in June, down from 2.3% in May, figures released by the National Statistics Office show • Euro area inflation at 2.6%

By: maltatoday.com

Jul 17 2024
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Inflation down by 0.1% in Jun

Malta’s annual inflation stood at 2.2% in June, down from 2.3% in May, figures released by the National Statistics Office released on Wednesday show.

The data, calculated in terms of the harmonised index of consumer prices, shows inflation in the country still stands below the June euro area average of 2.5%. The euro area inflation is down from 2.6% in May, having been 5.5% in June 2023.

In Malta, the highest annual inflation rates were recorded in miscellaneous goods and services (4.1%) and Education (4.1%). The lowest were registered in Communication (-12.2 %) and Clothing and footwear (-0.2%).

European Union annual inflation was 2.6% in June 2024, down from 2.7% in May. A year earlier, the rate was 6.4%.

The lowest annual rates were registered in Finland (0.5%), Italy (0.9%) and Lithuania (1.0%). The highest annual rates were recorded in Belgium (5.4%), Romania (5.3%), Spain and Hungary (both 3.6%).

In June 2024, the highest contribution to the annual euro area inflation rate came from services (+1.84 percentage points, pp), followed by food, alcohol & tobacco (+0.48 pp), non-energy industrial goods (+0.17 pp) and energy (+0.02 pp).