GWU general secretary Tony Zarb told a seminar discussing the introduction of the euro and the effect on prices that many price rises had occurred before the euro became Malta’s currency. An exercise the GWU had conducted showed that a list of essential objects worth Lm65 had shown an increase of five per cent in a matter of seven months, from July to February.

This meant that the cost of living increase awarded this year was not enough.

As the GWU has been saying for long, the time had come to review the manner in which the cost of living was calculated.

Mr Zarb said the latest statistics showed that the rate of inflation in Malta has now gone up to 3.5 per cent.

The purchasing power was continually weakening he said, wondering what would happen in March when an agreement on prices expired.

Price rises were recorded not only on foodstuffs but also on various services, including those related to health.

Pensioners were feeling the crunch of price rises in medicines.

Mr Zarb said that to really protect the consumer, a study should be conducted at least six months after the euro was introduced, to see the effect the currency had had on the prices of products and services.

The government, he added, should ensure that the ports reform reflected the tariffs increase, so that consumers would benefit.