The Malta Independent 4 September 2026, Friday
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The Value of money

Malta Independent Monday, 22 June 2009, 00:00 Last update: about 14 years ago

The Labour Party has made it its battle-cry in successive election campaigns, but it has never been as close to the truth as it has been in the past months.

For many years, no Labour political activity went by without a mention of the cost of living, and how people were struggling to cope with increased expenses. Leaders and party exponents delved deeply into the issue, claiming that the workers and their families were unable to see through till the end of the month.

These repeated calls became so common that they were brushed off and sometimes even ignored by the media, except that pertaining to or close to the PL. It was a time when there were perhaps other issues that deserved more importance, or else such calls were deemed to have been unjustified.

But the scenario has seemingly changed, as more and more people are finding it hard to make ends meet. Their salary, or what they earn through their enterprise, is not enough to counter-balance the bills that keep coming in or the needs that they have to buy for themselves and their families.

There is no doubt that the international situation has dealt a massive blow to the standard of living of each and every one of us. There is also no doubt that the rise in the price of energy rates has also contributed to the current crisis many families have found themselves in.

But it is not just the recession and the energy rates that have affected our families. It is the constant perception that today life is much more expensive than it used to be. Very often, it is not just a perception, because a quick comparison between today’s bills and those of only a month or two ago show a definite upward trend.

The introduction of the euro, as the government constantly points out, may have saved Malta and the Maltese from harder times. But on the other hand it has pushed prices up in no small measure.

The reason for this is that the mechanism that controlled the changeover from the lira to the euro – and that no abuses take place – is no longer there. Of course, nobody expected it to last forever, or that prices of items and services continued to be shown in both currencies should have remained.

But the elimination of the lira equivalent must have helped to increase daily costs. We were told to think in euros, and most of us did so from day one. Yet, few still carry conversion cards or calculators with them, and quick calculations of what an item costs in euros can appear close to the former price in liri. However, if a correct conversion is carried out, one would find that the cost of several items today has gone up. It may be a few cents here and there, but if these are added up, say, at the supermarket, one would find out that the actual increase is quite exorbitant.

Supermarket items which two years ago cost Lm30, or E69.90, today can easily add up to E85, or nearly Lm36.50. Salaries have not gone up this much, and if this happens every week then it is no wonder that many families are suffering.

People have had to cut down on things they buy because of these extra costs, or else deprive themselves of the “luxuries”, which today are no luxuries at all but necessities.

The government cannot continue to ignore these calls. It has said that it wants to remain close to the people – especially after the drubbing it received at the EP election. If there is one thing it should listen attentively to, and take action, it is the cost of living.

Labour have never been as close to the truth as they are today.

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