According to the latest Retail Price Index figures by the NSO, the annual rate of inflation increased from 2.5% to 2.7% between June and July. The 12-month moving average stood at 2.6%.
Food prices also continued going persistently higher. The Food Index made the largest contribution to the overall inflation rate, adding 0.59 percentage points, mainly due to higher takeaway prices. Housing added another 0.54 percentage points, while furnishings and household equipment contributed 0.40 percentage points, driven mainly by higher prices for tiles and furniture.
The upward pressure was partly offset by clothing and footwear, where prices fell by 3.5% compared with July last year. Clothing and footwear reduced the overall inflation rate by 0.23 percentage points. Meanwhile, the index for water, electricity, gas and fuels remained unchanged year-on-year.
The latest figures confirm that inflation in Malta is continuing upwards, with the most persistent pressures continuing to come from food and housing.
Newsroom
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