In a flash estimate released by Eurostat today, inflation in the Euro area has been recorded at 3.2% in May, higher from the 3% reading of April. Inflation was bumped higher by energy at 10.9%, followed by services at 3.5% and food at 3.%.
Inflation 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 higher.
None of the political parties have made inflation an issue in their electoral campaign but the Labour Party has pledged a raft of subsidies, including a €1,000 per year super-bonus to all Maltese workers to address cost-of-living. Both political parties in Malta agree on ongoing fuel and electricity subsidies that are keeping energy inflation in Malta flat.
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