The Retail Price Index for September has shot from 2.6% in August to 2.9% in September, according to the latest figures cited in the NSO release. The figure coincides with the significant increase in the Harmonised Index of Consumer Prices, which shot from 2.0% to 2.4% in September.
The difference between the HICP and the RPI is mainly methodological. The RPI measures price changes affecting private households, while the HICP also covers institutional households, such as retirement homes, and foreign visitors to Malta. The two indices also use different consumption baskets and weighting systems.
Food has remained the consistent upward driver. Restaurants and accommodation services made the largest contribution to annual inflation, adding 0.52 percentage points. Food and non-alcoholic beverages contributed another 0.43 percentage points, while transport added 0.35 percentage points.
Information and communication was the only division identified as making a downward contribution to overall annual inflation, subtracting 0.18 percentage points, mainly due to lower mobile phone service prices.
The annual inflation rate for recreation, sport and culture, as well as personal care and miscellaneous goods and services, stood at 3.6% in September. Information and communication recorded an annual decline of 3.7%.
Inflation may be a major factor weighing down consumer expenditure, as reported earlier here.
Newsroom
Leave a Reply