According to a report released by the European Union’s statistical arm, Eurostat, Maltese people pay 12 per cent more money than the EU average for buying food and non-alcoholic beverage.
The report revealed that consumers in Malta pay ninth-highest prices for these goods in the whole of the EU. The problem worsens because the purchasing power of Maltese people is about 20 per cent less than the EU average.
According to Malta Independent, the survey was conducted in 2018 and covered 440 different products. Denmark, Luxembourg, Austria, Ireland, Finland, Sweden, France, and Belgium have higher food prices than Malta.
Here is a brief breakup:
Bread and Cereal – Maltese consumers pay 11 per cent more than the EU average
Meat – Maltese consumers pay 2 per cent less than the EU average
Milk, Cheese, Eggs, etc – Maltese consumers pay 17 per cent more than the EU average
Tobacco products – Maltese people pay 6 per cent less than the EU average
There is a huge difference in the cost of several products across the European Union with the most expensive countries selling the same product at twice the cost in comparison to the cheapest countries.
Earlier, it was reported that the food prices in Malta reached the highest inflation rate in 2019 as compared to other retail groups.
The report by National Statistics Office (NSO) had revealed that food prices increased at a rate of 4.82 per cent in May as compared to 2.44 per cent for housing, 1.28 per cent for tobacco products, and 1.72 per cent for transport and communications.
The NSO also stated that the increase in food prices also contributed to 1.04 per cent increase in the annual inflation rate.