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The Maltese Herald

Inflation in Europe and Malta gets sticky: CPI at 3%

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by

Maltese Herald
in ,

Inflation in Europe and also in Malta is getting sticky due to the consequences of the war against Iran with the latest Eurostat Consumer Price Index reading for April in the Euro area coming at 3%. The reading for March was 2.6%. In the EU it was up by 3.2%.

The highest inflation rates were recorded in Romania (9.5%), Bulgaria (6.0%) and Croatia (5.4%) and the lowest rates recorded in Sweden (0.5%), Denmark (1.2%) and Czechia (2.1%). Inflation in Europe is being pushed mainly by energy and followed by food. 

In Malta inflation is also sticking rising to 2.5% in April according to NSO with the the Harmonised Consumer Price Index. As usual, Malta’s inflation rate is being bumped up by food. Malta’s inflation rate is being tamed down with direct subsides of electricity and fuel purchases.

Industrial producer prices also increased by 3.4% in the Euro area in April.

Oil remains above $100 as of writing.

The European Central Bank is ready to intervene with a gradual approach if inflation remains higher than its 2% target.

Feature image of Prime Minister Robert Abela visiting a Maltese supermarket.

 

 

 

 

 

 

 

 

 

 

 

Comments

5 responses to “Inflation in Europe and Malta gets sticky: CPI at 3%”

  1. UK and Italy turn to Russian oil as oil in the open market remains above $100 - The Maltese Herald avatar
    UK and Italy turn to Russian oil as oil in the open market remains above $100 - The Maltese Herald

    […] UK and Italy are temporally renewing their purchases of Russian oil seeking cheaper oil imports as inflation gets sticky in Europe due to the consequences of the war in […]

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  2. Inflation keeps stretching higher: Retail Price Index at 2.8% for April - The Maltese Herald avatar
    Inflation keeps stretching higher: Retail Price Index at 2.8% for April - The Maltese Herald

    […] to the National statistics Office. Inflation by the RPI is being recorded higher than with the Harmonised Index for Consumer Prices which marked inflation at 2.5% in April. RPI was at 2.7% in […]

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  3. - The Maltese Herald avatar
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    […] Retail Price Index for April has come at 2.8% while CPI in the Euro area was recorded at […]

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  4. Inflation in Europe goes higher in May due to the energy-shock - The Maltese Herald avatar
    Inflation in Europe goes higher in May due to the energy-shock - The Maltese Herald

    […] in Malta for the month of May was recorded at 2.7% with the HICP, higher than its previous 2.5% reading in April.  The food component has been the consistent item category that pushed inflation in Malta […]

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  5. Inflation smashes down in Malta - The Maltese Herald avatar
    Inflation smashes down in Malta - The Maltese Herald

    […] in Malta via the RPI and the HICP have been going up as a result of the energy-shock caused by the war on […]

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