Inflation continues to fall

Malta’s rate of inflation continued to decline for the seventh consecutive month over November, according to figures released by the National Statistics Office yesterday. Declining by 0.27 points over the previous month, November’s inflation rate reached 2.55 per cent, the lowest rate registered since October 2001’s 2.48 per cent.

Over the same month the Retail Price Index declined by 0.11 points, or 0.09 per cent, over October and reached 119.29.

The largest increase in retail price was registered in the Clothing and Footwear index, which rose by 2.81 per cent over the month in question following average price increases in women’s and men’s outer clothing, girl’s and boy’s clothing and infant clothing. Higher footwear prices were also registered.

The Food items index, meanwhile, dropped by 1.06 per cent. Within the group, price drops were recorded in range of seasonal items including fresh fish, fresh fruit and fresh vegetables. A slight drop in the average price of potatoes was also recorded.

The Housing items index increased by0.12 per cent as a result of high average rents for dwellings and garages.

The Other Goods and Services index, meanwhile, rose by 0.08 per cent, with average price increases in being registered in a range of cleaning materials.