Figures published today by the European Union's statistics office confirm that cost of living in Malta continues to surge, with the national rate significantly exceeding the eurozone average, the Nationalist Party said Tuesday.

The latest Eurostat data shows that Malta's annual cost of living rate in May stood at 2.6%, marking an increase over the same month last year. The figures also reveal that the cost of living in Malta has been rising steadily month after month since the start of the year.

Worryingly, Malta's cost of living rate remains much higher than the eurozone average, which stood at 1.9% in May 2025 - a decrease from 2.2% in April. While most eurozone countries are seeing prices stabilise or fall, Malta is going in the opposite direction, the statement said

When compared to other eurozone member states, Malta's rate is higher than that of countries like Germany, Ireland, Spain, France, Italy, Cyprus, Portugal, Luxembourg, and Slovenia - many of which have registered a decrease.

Once again, the biggest contributors to the rising cost of living are food prices and the cost of services, the PN said.

For months, the PN said it has been urging the government to take action on this cost-of-living crisis. However, Robert Abela and the Labour Party continue to ignore the solutions being put forward by the Opposition. The Labour government even voted against a Motion tabled by the PN in Parliament aimed at addressing the crisis.

As long as the Government remains out of touch with people's struggles and continues to reject concrete solutions proposed by the PN, it is clear that only a new Nationalist Government can implement the necessary measures.

The Government must set aside partisanship and implement the PN's proposals - proposals that enjoy widespread support. These include:

Abolishing tax on the first €10,000 earned from part-time and overtime work;

Making the cost-of-living adjustment (COLA) non-taxable;

Providing tax credits to employers to help them absorb increased costs without raising prices;

Establishing a National Fund to support importers and exporters in managing costs that impact inflation;

Above all, adopting a new economic model based on emerging sectors that create quality jobs and better pay for workers.