Inflation remains unchanged in October

Inflation in Malta remained unchanged at 7.4% in October, according to the Harmonised Index of Consumer Prices released today.

The National Statistics Office said the largest upward impact on annual inflation was measured in the food and non-alcoholic beverages, which saw an increase of 2.5 points.

Malta’s annual rate of inflation was the third lowest in the EU in October, according to figures released by Eurostat, the European statistics agency.

However, Maltese consumers have been shielded from rising energy prices as a result of hefty government subsidies to keep the price of electricity and fuels stable. 

The euro area annual inflation rate was 10.6% in October, up from 9.9% in September. A year earlier, the rate was 4.1%. European Union annual inflation was 11.5% in October, up from 10.9% in September. A year earlier, the rate was 4.4%.

According to Eurostat, compared with September, annual inflation fell in 11 Member States, remained stable in three and rose in 13.