Malta inflation in November drops but remains higher than Euro area

Malta’s annual inflation in November 2023 stood at 3.9%, down by 2.9% from the same month last year.

Inflation also dropped by 0.3% from the previous month, figures show.

The euro area annual inflation rate was 2.4% in November 2023, down from 2.9% in October.

A year earlier, the rate was 10.1%. European Union annual inflation was 3.1% in November 2023, down from 3.6% in October. A year earlier, the rate was 11.1%.

The lowest annual rates were registered in Belgium (-0.8%), Denmark (0.3%) and Italy (0.6%).

The highest annual rates were recorded in Czechia (8.0%), Hungary (7.7%), Slovakia and Romania (both 6.9%). Compared with October, annual inflation fell in twenty-one Member States, remained stable in three and rose in three.

In November, the highest contribution to the annual euro area inflation rate came from services (+1.69 percentage points, pp), followed by food, alcohol & tobacco (+1.37 pp), non-energy industrial goods (+0.75 pp) and energy (-1.41 pp).