Inflation rate in November 2024 down to 1.3%

In November 2024, Malta's annual rate of inflation as measured by the Retail Price Index was 1.3 per cent, down from 1.6 per cent in October 2024.

The 12-month moving average rate for November stood at 1.9 per cent, the first time it has fallen below the target two per cent rate since January 2022 – almost three years ago.

The latest data from the National Statistics Office shows that the largest contribution to the overall annual inflation was measured in the food index (+0.46 percentage points), while the largest downward contribution was recorded in the furnishings and household equipment Index (-0.15 percentage points).

In November itself, the highest annual inflation rates were registered in other goods and services (3.7 per cent) and personal care and health (3.1 per cent).

On the other hand, the lowest annual inflation rates were registered in furnishings and household equipment (-2.2 per cent) and clothing and footwear (-1.3 per cent).