Inflation continues to fall

Since the start of the ‘Stabbiltà’ scheme, Malta has experienced the biggest fall in food price inflation.

In April, the rate of inflation continued to fall, dropping below the European Union average. In fact, Malta’s inflation rate was 2.4% versus 2.6% in the EU.

The rate for Malta has now fallen to its lowest level since September 2021. Since the introduction of the Stabbiltà scheme in early February, inflation in has fallen from 3.7% to 2.4%, a drop of more than a third. In contrast, across the Union the decrease was from 3.1% to 2.6%. Therefore, since the establishment of Stabbiltà, inflation has fallen two and a half times the drop observed across the Union.  In fact, between March and April, the food and non-alcoholic beverages price index fell again. This was the third month of consecutive declines. Thus, between the end of January and the end of April, according to Eurostat, the price of food and non-alcoholic beverages in Malta fell by 1.7%.

In contrast, across the EU in the same months there was an increase of 0.3%. This means that the situation for the Maltese consumer was 2% better than that faced by European consumers. The worst situation was in Cyprus, where the price of food and drink increased by almost 2% in the past three months. In Italy, the source of much of the food we consume, there was a 0.3% drop between January and April, or less than a fifth of that which happened in Malta.

The strong impact of the Stabbiltà scheme to stop the rise in food prices is increasing month after month.

Drop in food prices between January and April
-1.7%Malta
-1.1%Greece
-1.0%Slovenia
-1.0%Belgium
-0.6%Slovakia
-0.3%Italy
-0.3%France
-0.2%Sweden
-0.2%Lithuania
-0.2%Hungary
-0.1%Finland
0.0%Euro area
0.0%Luxembourg
0.1%Portugal
0.1%Germany
0.3%European Union
0.4%Estonia
0.4%Croatia
0.4%Bulgaria
0.6%Czechia
0.6%Austria
0.7%Spain
0.8%Latvia
1.0%Netherlands
1.3%Ireland
1.3%Poland
1.4%Denmark
1.5%Romania
1.9%Cyprus
Source: Eurostat

Photo: Shutterstock

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