The PN said that it is concerned with the latest figures published by the National Statistics Office (NSO), "which show that in August, for another consecutive month, the cost-of-living rate in Malta continued to rise compared with the previous month, now standing at 2.7%."

The PN said that according to the NSO, the largest increase that contributed to the annual rate of the cost of living going up again last month was the rise in food and beverage prices.

"Other increases were registered in the transport and communication price indices."

"This statement on the Retail Price Index (RPI) is confirmation that the prices of the most essential items for Maltese families remain among the fastest rising, and that the Maltese continue to face ever-increasing costs. This is having negative effects not only on families, but also on economic sectors whose operating costs are continuing to rise while their profits decline."

The cost-of-living rate for August not only increased compared with July (2.4%) but also rose significantly compared with August 2024 when it stood at 1.5%, the PN said.

"Beyond percentages, this is the harsh daily reality for thousands of Maltese and Gozitan families: ever-increasing expenses, wages that do not keep up, and a Government that turns a deaf ear to people's concerns." 

"In contrast, the PN, even from Opposition, is putting forward concrete proposals to address this crisis - measures which social partners agree with but which the Government is shelving, as it did when it voted in Parliament against the Opposition's Motion to address the cost of living," the party said.

The PN outlined its proposed solutions: Removing tax on the cost-of-living adjustment (COLA) so that workers benefit from the full increase; Tax exemption on the first €10,000 from overtime and part-time work so that those who work more earn more; Tax credits for employers so they do not have to raise prices to make up for COLA; A national fund for industries that import or export, to reduce acquisition and transport costs; A new and sustainable economic model, based on value-added sectors, creating quality jobs with higher wages and greater productivity.

The PN said that it will continue to speak on behalf of those who today cannot keep up with the cost of living, and on behalf of businesses that need support. "While the Labour Government remains indifferent, the PN is ready to lead the country in a new direction that provides serious solutions and delivers a better quality of life for the Maltese and Gozitans."

The PN statement was signed by Ivan Castillo, Shadow Minister for Maritime Affairs, Social Dialogue, and the Fight Against Rising Cost of Living, and Albert Buttigieg, Shadow Minister for the Family and Social Services