Inflation eases at a slower rate in May

Inflation was 2.3 per cent in May

June 18, 2024| Times of Malta 1 min read
The highest annual inflation rates in May were recorded in Food and non-alcoholic beverages.The highest annual inflation rates in May were recorded in Food and non-alcoholic beverages.

A downward trend in inflation continued in May, although at a slower pace, official data issued on Tuesday shows.

The National Statistics Office said the annual rate of inflation as measured for the Harmonised Index of Consumer Prices (HICP) in May was 2.3 per cent, from 2.4 per cent in April 2024. 

The highest annual inflation rates in May were recorded in Food and non-alcoholic beverages (4.8 per cent) and Education (4.8 per cent). On the other hand, the lowest annual inflation rates were registered in Communication (-11.7 per cent) and Recreation and culture (-0.3 per cent).

Inflation was down slightly in May. NSO graphic.Inflation was down slightly in May. NSO graphic.

The NSO said the food index rose largely due to higher prices of milk. The second and third largest contributions were measured in the Restaurants and hotels Index (+0.70 percentage points) and the Miscellaneous goods and services Index (+0.31 percentage points), mainly on account of higher prices of restaurant services and articles for personal hygiene, respectively. 

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.