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Government welcomes news of low inflation rate
Last month, Malta had the seventh lowest inflation rate amongst the 27 EU Member States.
18 December 2013, 12:00am
Staff Reporter
Staff Reporter
1 min read
The government welcomed the news that Malta obtained the lowest inflation rate in the past four years.
It said that this contrasted with how the economy was managed under the previous administration, where inflation reached 3% and 4%.
NSO statistics showed the cost of living has been decreasing for five consecutive months, with the rate always being kept under 1%.
The government also highlighted Eurostat’s findings that Malta had the seventh lowest inflation rate amongst the 27 EU Member States. While Malta registered a minimal 0.3% for November, the average in the EU27 reached the 1% mark.
“The government is now looking forward for next March, where the reduction in the utility tariffs is expected to increasing the purchasing power and stimulate the local economy. This economic growth will be felt by all the classes,” an official statement read.
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