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MLP concerned about Malta's inflation rate
By MaltaMedia News
Sep 19, 2008 - 5:22:01 PM
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The Malta Labour Party said it is worrying that Malta’s rate of inflation has been consistently higher than the average when compared to other countries of the Eurozone. This will have a negative impact on the country’s competitiveness, it said.
Official figures show that Malta's annual rate of inflation at 6.8% which government keeps attributing to the impact of rises in food and fuel prices, it said.
“If one had to remove the impact of fuel and food prices from the rate it would still show that prices went up from 2.8% in January to 4.3% in July, which is the highest rate in the Eurozone.” Labour spokesperson for economics, Dr Charles Mangion said.
Dr Mangion said that the Nationalist Party’s pre-election pledges of fair competition and consumer protection are not functioning properly.
“Meanwhile, cost of living in Malta is gaining an uncontrollable momentum as was confirmed by statistics published by the European Union which confirm that salaries in Malta were increasing at the lowest rate in the EU. This means that we cannot blame rises in salaries for the increase in cost of living.” Dr Mangion said.
© Copyright 2008 by MaltaMedia.com
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Latest update:
Sep 21, 2008 - 12:44:04 PM CET
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