According to the latest NSO statistics, inflation in Malta has ticked up in March with the Retail Price Index showing that inflation went up to 2.7% in March from 2.5% in February. Inflation in Europe has kicked upward due to the effects of the war in Iran and the effects are now also reflected in Malta through the inflation readings.
Malta’s inflation rate in March has been restrained via energy and fuel subsidies, but food still kicked it higher. Food has been the main driver for inflation readings in Malta consistently during the past few years. However, the costs on housing have succeeded food and the reading is showing accordingly after the weighting was increased. The item of “housing” includes rent, and household consumption such as electricity and water bills.
Property prices in Malta keep increasing along with property sales which have no respite.
Earlier today, the Finance Minister held a press conference with the Minister of Energy to once again remind us that the government’s subsidies keep fuel and electricity prices, but there was no mention of the inflation rate during the press conference.
Previous estimates showed that Malta’s inflation for March remained flat, but this is unrealistic. European inflation in March ticked up.
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