Malta’s inflation rate edges up to 2.4% in September, driven by higher housing and food prices

Malta’s annual inflation rate climbed slightly to 2.4 per cent in September 2025, marking a small but notable uptick in consumer prices across several key categories, according to the latest figures published by the National Statistics Office (NSO).

However, the 12-month moving average inflation rate edged up to two per cent, from 1.9 per cent in August. This indicates that although prices rose at a slower annual pace, the broader inflation trend remains steady.

The NSO said the main upward pressures came from other goods and services, which saw a 4.1 per cent annual increase, and food, which rose by 3.9 per cent. In contrast, transport and communication experienced a mild rise of 1.2 per cent, while clothing and footwear increased marginally by 0.5 per cent.

On a month-to-month basis, prices increased by 0.2 per cent, maintaining the same rate observed in August.

Food and housing remain key drivers

Food prices, which carry the largest weight in the RPI basket at 21.49 per cent, continued to exert strong influence on the overall index. The category including restaurant services and take-aways registered a monthly increase of 0.1 per cent, reflecting persistent cost pressures in the hospitality sector.

Housing costs also rose notably, up 1.1 per cent month-on-month.

Energy prices remain stable

In contrast, water, electricity, gas and fuels recorded no change over the month, with an annual rate of 0.0 per cent, continuing the stability seen throughout the year.

Recreation, health and furnishings show moderate growth

Other categories posting moderate annual growth included personal care and health (2.4 per cent), recreation and culture (2.4 per cent), and furnishings and household equipment (1.8 per cent).

Inflation moderates year-on-year

While September’s figure shows a slight monthly increase, inflation remains significantly lower than the six per cent annual rate recorded in the same month last year, indicating continued stabilisation in consumer prices after the sharp rises of 2022–2023.

The 12-month moving average for September stood at two per cent, down from 2.2 per cent a year earlier, underscoring a broader cooling trend in prices even as some sectors remain volatile.