FX.co ★ Malta HICP Inflation Slows To 1.8%

Malta experienced a continued decrease in inflation as measured by the European Union for the second consecutive month in December, according to the National Statistics Office data released on Friday.

The Harmonized Index of Consumer Prices (HICP) rose by 1.8 percent year-on-year in December, marking a deceleration from the 2.1 percent increase observed in November.

The growth rate of prices for food and non-alcoholic beverages slowed, registering a 2.0 percent annual increase in December compared to a 3.4 percent rise the previous month. Likewise, inflation related to utilities diminished to 0.9 percent from 1.1 percent. Communication costs also saw a more significant decrease, falling by 4.8 percent compared to the same period last year.

On a month-to-month basis, the HICP decreased by 0.4 percent in December.