The Ministry for Finance welcomes the latest data on prices published today by the NSO which showed that annual inflation as measured by the HICP remained at a relatively low level of 0.8 per cent in November of this year.

PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE

The low inflation level was mainly the result of a reduction in the general prices of recreational and cultural activities followed by clothing and footwear, and finally by transport.

The figures also show that during the last four years of Labour Government, the average annual inflation for November also equalled 0.8 per cent.

Minister for Finance Edward Scicluna said that: ‘This result shows that we are succeeding in recording robust economic growth rates while maintaining a low inflation level. This state of affiairs manages to protect the earned incomes from erosion by price increases and thus contributes too to the maintenance of families’ purchasing power”.

Thursday 15th December 2016