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Financial News: Malta PPI Inflation Eases In May; Jobless Rate

Malta PPI Inflation Eases In May; Jobless Rate Remains Stable

06/27/2022 - 06:38:00 (RTTNews)

(RTTNews) - Malta's producer price inflation eased for the second straight month in May, while the unemployment rate held steady, data from the National Statistics Office showed on Monday.

The producer price index climbed 5.28 percent year-on-year in May, slightly slower than the 5.75 percent increase in April.

Prices for durable consumer goods grew the most, by 12.60 percent annually in April, and those for intermediate goods surged 8.18 percent. Meanwhile, energy prices showed no variations.

Domestic market prices increased 9.43 percent and non-domestic market prices rose 2.64 percent.

On a monthly basis, producer prices edged up 0.13 percent in May, reversing a 0.99 percent fall in the prior month.

In a separate report, the statistical office revealed that the seasonally adjusted jobless rate remained stable at 3.1 percent in May.

In the corresponding month last year, the jobless rate was 3.4 percent.

There were 8,780 unemployed people in May, compared to 9,323 in the same month of 2021.

The youth unemployment rate, which applies to the 15 to 24 age group, dropped to 6.4 percent in May from 6.8 percent in April.

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