Tag: Inflation
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Alf Mizzi & Sons don’t disclose their profitability for 2021 on food imports, but they do disclose a 1.5 million in dividends
It’s a bit difficult to comprehend the profitability for Alf Mizzi & Sons on food imports for 2021 because their accounts are incomplete. Labour MEP Alex Agius Saliba has submitted an official complaint to the EU Commission where he alleges that large food importers in Malta are abusing their monopoly position. I am not saying…
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Some important statistics to consider with regards to food price hikes and profits
First of all, I am not saying that Alex Agius Saliba is right, but that he is making a good point. This is a matter of public interest, so I’ll be giving it more thought after some important points were made by readers, especially on the profitability aspect. Profitability for M&Z seems to be slightly…
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Profits and revenues of major food importer and distributor M&Z soared in 2022
Among the large food importers and distributors in Malta that have monopoly power in a very small market is M&Z which is on the Malta Stock Exchange (MZ) and its biggest shareholders are Paul Camilleri and Thomas Agius-Vadala. The company’s revenue soared by 24% in 2022 from 2021 reaching levels even higher than 2019 –…
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Alf Mizzi & Sons are killing it and Alex Agius Saliba makes a good point
It is not my pleasure to give the Labour Party any credit and hopefully, they get absolutely destroyed in the coming general elections. However, I am also trying to do my work objectively as I find stories that are relevant and important. I’ve called Alex Agius Saliba to ask him what he’s actually doing with…
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Higher for longer with recessionary vibes
This is a depressing speech from EU Central Bank chief Christine Lagarde citing recessionary vibes in Europe, prolonged inflation, and slowing demand (both European demand and international demand for European products). Personally, I assumed Christine Lagarde was going to give a hawkish pause but the Central Bank increased the interest to 25 BPS (0.25%). Her…
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Some context on today’s GDP statistics
Robert Abela is quick to declare victory laps but it is important to give some context to the 3.9% growth rate registered in Q2 before assuming that things are all fine. Apart from the seasonality aspect of the figure, the statistics also showed slowing local consumption, paired with European recessionary vibes. The growth rate is…
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Inflation in Europe is still sticky
Recessionary vibes are out today in Europe with today’s German inflation data coming out sticky with electricity prices, especially in gas propping up inflation higher than expected in various regions. Meanwhile, Italian industrial production continues to slow significantly once again. Other inflation statistics all show that in general, inflation in Europe remains sticky such as…
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Inflation in Malta is still high and increasing the minimum wage is necessary
Somehow, I can’t find the NSO’s inflation data of Malta for July, and I couldn’t find the breakdowns and tables available either, The NSO has updated its website and I am having trouble using it. It is alarming that in Malta no one in politics is speaking about the urgency of raising the minimum wage.…
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The Dollar is crashing – upward and forward
The Dollarisation of the world is happening faster than you can say “the Dollar is going to collapse”. The surprise election victory of Javier Gerardo Milei’s party in Argentina plans to bring Argentina’s prolonged and never-ending hyperinflation saga to an end with one simple trick: Dollarisation. In addition to Dollarisation, Javier Milei is also proposing…
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EU with sticky inflation and Malta’s inflation at 7% in February
Inflation in Europe is sticky with the February average at 8.5%. Note that Malta’s inflation rate is at 7% because of subsidies on electricity bills offsetting the premium being paid by the Maltese government over its energy supplies. I don’t have the time to do the maths, but if you remove the electricity bills subsidies…
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Inflation is still high and elevated
The reality on the ground is very different from what was portrayed in Robert Abela’s shallow speech, last Sunday. Inflation in Malta is still highly elevated, and this is despite the fact that energy inflation is subdued by government subsidies. The problem with the latest reading of the Harmonised Index for Consumer Prices is that…
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Pouring oil on the fire
Here’s some basic economics 101. The reason why central banks increase interest rates during an inflationary environment is to reduce the money supply and decrease demand. In a recessionary environment, the central bank would be expected to reduce interest rates so as to increase the money supply and increase economic activity to push employment and…
