The cost of living increase should be given to the public as from July 1, the green party ADPD said on Thursday.

The government is failing to tackle the problem head-on and in an immediate and effective manner as prices of goods and services keep shooting up, the party said in a statement.

“As salaries remain unchanged, the purchasing power is continuously being eroded," it said.

According to calculations based on the increase in prices of essential commodities registered in the first five months of this year, the cost-of-living adjustment is projected to reach a weekly increase of €7 or €8. This will be among the highest COLA since 1990.

Times of Malta quoted experts a few days ago saying that COLA is likely to reach a whopping €8 per week, hitting the country’s competitiveness because it will increase costs for businesses.

Chairperson Carmel Cacopardo said that ADPD has been insisting that COLA should be awarded twice a year.

This was also an ADPD proposal in its electoral manifesto in view of the increasing number of people living in poverty or on the edge of it.

Deputy chairperson Sandra Gauci said the government and the social partners should not procrastinate any further and deal with the matter with urgency.

“Those trying to make ends meet from day-to-day cannot wait till the end of the year to be granted the COLA in arrears,” she said.