PN warns of slowing wage growth

The Nationalist Party has warned that Malta’s wage growth has slumped to a rate close to that of inflation.

Eurostat statistics show that wages in Malta grew by 1.6% in the third quarter of 2015, a lower rate than in the previous four quarters, and lower than the EU average of 2%. Separate Eurostat statistics show that Malta in September registered the highest annual inflation rate in the Eurozone, also 1.6%.

The PN also cited national statistics that indicate that inflation measured by the retail price index stood at 1.32% in 2015, and finance minister Edward Scicluna’s statement earlier this year that fuel prices are intentionally being kept high.

“This proves that the Maltese economy is only improving for people within Labour’s inner circle who are getting rich off the people’s backs,” the PN said. “The quality of life for the rest of the population is either stagnating or getting worse.”