Malta’s Inflation Rate Climbs To 2.7% As Food Prices Drive Increase

Wait 5 sec.

Malta’s inflation rate edged higher in July, with rising food prices making the biggest contribution to the increase.The annual rate of inflation, as measured by the Retail Price Index (RPI), reached 2.7% in July of this year, up from 2.5% just one month earlier.Meanwhile, the 12-month moving average inflation rate stood at 2.6% in July.Food was the biggest contributor to the overall annual inflation rate, adding 0.59 percentage points to the figure.This means changes in food prices had a greater upward impact on the overall inflation rate than any other category measured by the index.There was some relief when it came to clothing and footwear.The Clothing and Footwear Index was the only category to make a downward contribution, shaving 0.23 percentage points off the overall annual inflation rate.The latest figures mean Malta entered the second half of the year with inflation ticking upwards, moving from 2.5% in June to 2.7% in July.For households, food remains one of the key areas putting upward pressure on the cost of living.Have you felt this inflation increase?•