Two different sets of statistics published over the past days seem to show that, while Malta’s economy is growing rapidly, our purchasing power is significantly lower than the EU average while food prices in Malta are drastically higher.

This government has often spoken about how it wants a more just and equitable society where the wealth generated reaches all levels of society. It often refers to the surpluses registered, the millions made by the controversial passport sale scheme and the above average economic growth as indicators that society in general is faring much better than it was under previous generations.

But the numbers paint a different picture.

Figures released by Eurostat on Wednesday show that the Actual Individual Consumption (AIC) by Maltese households, a measure of material welfare of households, was 20% less than the EU average. On the other hand, GDP stood at 98% of the EU average. This seems to indicate that, while GDP is almost in line with the European average, this growth is not trickling down to the average household, whose AIC is only 80% of the EU average.

On Thursday, in another data release, Eurostat said that Maltese consumers are paying an average of 12% more than the EU average for staple food products. Indeed, the Maltese are being treated to the ninth-highest prices for food and non-alcoholic beverages in the EU.

It is significant that countries like the UK, Germany and the Netherlands, all of which have higher averages wages and greater consumer purchasing power, have far cheaper food prices.

The data showed, for example, how the Maltese are paying 11% more than the European average for staples such as bread and cereals, and 17% more on items such as milk, cheese and eggs. Alcoholic beverages are 9% higher than the EU average, while meat is 2% cheaper.

The numbers are there but we do not necessarily need statistics to see that life in Malta is getting more expensive and that it is getting harder for people to get by. Many European tourists will tell you that Malta is expensive by their standards, and this coming from people who most probably have higher average wages than ours.

It is also no secret that, while salaries in certain sectors like gaming and financial services have grown steadily, in most others they have remained the same or only increased marginally.

These statistics are particularly worrying for large families and for pensioners. Prime Minister Joseph Muscat has said that pensions will be increased again in the upcoming budget. One hopes that the increase will be enough to offset the existing imbalance.

But aside from marginal yearly increases to pensions and other allowances, the country needs to deeply analyse the situation and ensure that the massive economic growth – which is this year expected to be around 6% - is actually trickling down to all levels of society, and not stopping at the top tiers. It is pointless to boast about the impressive numbers if the benefits are only being enjoyed by a privileged few.