Malta registers lowest annual inflation in the EU as rate stands at 6.1%

Last Updated on Thursday, 21 July, 2022 at 9:24 am by The Malta Business Weekly

Malta registered the lowest annual inflation rate in the EU last June, but increased by 0.3% from last May, according to Eurostat data.

Eurostat said in a statement that the euro area annual inflation rate was 8.6% in June 2022, up from 8.1% in May. A year earlier, the rate was 1.9%.

European Union annual inflation was 9.6% in June 2022, up from 8.8% in May. A year earlier, the rate was 2.2%.

The data also found that the lowest annual rates were registered in Malta (6.1%), France (6.5%) and Finland (8.1%), while the highest annual rates were recorded in Estonia (22.0%), Lithuania (20.5%) and Latvia (19.2%).

Compared with May, annual inflation fell in two Member States and rose in twenty-five.

In June, the highest contribution to the annual euro area inflation rate came from energy (+4.19%), followed by food, alcohol & tobacco (+1.88%), services (+1.42%) and non-energy industrial goods (+1.15%), the data showed.

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