Steepest increase in prices registered in July
Inflation as measured by the Retail Price Index stood at 6.8% in July, fresh data shows
23 August 2022, 12:40pm
Kurt Sansone
Kurt Sansone
1 min read
July annual inflation as measured by the RPI stood at 6.8%
Prices continued to shoot up in July with the Retail Price Index measuring annual inflation at 6.8%, figures released by the National Statistics Office show.
The RPI is the measurement used to calculate the annual Cost of Living Adjustment (COLA), which is announced in the budget.
The latest data shows that annual inflation in July was 0.6 points higher than the previous month with food prices being a major upward driving force. This is the steepest month-on-month increase in prices registered so far this year.
The Food Index, which includes restaurant services and take-aways, registered an increase of 2.5 percentage points in July when compared to the same month last year.
Inflation shot up beyond the 3% mark in January and has continued on a steep incline as it squeezes pockets and erodes disposable income.
Kurt Sansone is Executive Editor of MaltaToday.
He was formerly deputy editor of MaltaTod...
