Euro area inflation rate down to 0.3 per cent, with Malta’s at 1.1 per cent

20th May 2020

In April 2020, Malta’s annual inflation rate dropped by 0.1 per cent

Malta’s annual inflation rate in April was down by to 1.1 per cent, according to figures published by Eurostat, the statistical office of the European Union, which also revealed a drop to 0.3 per cent for the entire Euro area and to 0.7 per cent in the EU.

Last month was characterised by COVID-19 mitigation measures on the continent, as the pandemic swept across Europe. Malta’s rate is 0.1 per cent down over March 2020.

The highest annual rates were recorded in the Czech Republic (3.3 per cent) Poland (2.9 per cent) and Hungary (2.5 per cent), while the lowest were noted in Slovenia (-1.3 per cent), Cyprus (-1.2 per cent) as well as Estonia and Greece (both -0.9 per cent). 

Italy, one of Europe’s highest hit countries, registered a stable inflation rate at 0.1 per cent, while Spain’s dropped to -0.7 per cent. 

The highest rates – across the zone – came from food, alcohol & tobacco (+0.67 percentage points, pp), services (+0.52 pp), non-energy industrial goods (+0.09 pp) and energy (-0.97 pp).