MaltaToday | 27 August 2008

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NEWS | Wednesday, 27 August 2008

Inflation not higher than EU average – ministry

The Ministry of Finance yesterday reacted to statements by Opposition Leader Chalres Mangion (see page 8), that Malta’s average rate of inflation was 3.3% over the past 12 months, at par with the EU’s.
Finance Minister Tonio Fenech said that Malta was experiencing the impact of higher oil and food prices while inflation in Estonia, Lithuania, Bulgaria and Latvia had reached in double digits.
Fenech said the price of food in Malta was 1.1% higher than the EU’s average price because Malta imported practically all its food.
Fenech said the Consumer and Competition Division had conducted 12,655 price check visits over the past six months.


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Inflation not higher than EU average – ministry



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