The latest figures published by both Malta's National Statistics Office (NSO) and the European Union's statistical office (Eurostat) clearly show that the rate of the cost of living in Malta continues to remain consistently, month after month, at a significantly higher level than the European Union average, as well as when compared to the average of euro area countries, the PN said in a statement.

"The Harmonised Index of Consumer Prices (HICP), published for the month of February, shows that while the rate of the cost of living in Malta last month stood at 2.3%, the average in euro area countries was 1.9%, while the EU average was 2.1%."

This means that the annual rate of the cost of living in our country is 0.4 percentage points higher than the euro area average and 0.2 percentage points higher than the EU average, the PN said.

Compared to the same month in the previous year (February 2025), the cost of living in Malta increased by 0.3% - from 2.0% to 2.3%, it said.

This was not the case in the euro area and across the EU, where over a one-year period, the cost of living decreased by 0.4% and 0.6% respectively, the party said. "All this confirms that prices in Malta are rising at a much faster rate than those in the majority of European countries, placing an increasing burden on Maltese and Gozitan citizens, particularly on the most vulnerable, such as the elderly."

"In February, the main contributors to the rise in the cost of living were increases in the prices of food and beverages, followed by increases in the price indices for restaurants and accommodation services, as well as recreational services. These are basic necessities, and this continues to create further concern and anxiety."

"It is also worrying that while Malta continues to face a higher rate of cost of living than the average of countries using the euro, in several other EU Member States the cost of living is at significantly lower levels. Among the countries with lower rates than Malta are Denmark, Belgium, Germany, France, Italy, Luxembourg, Hungary, Finland, Sweden, the Czech Republic, and even small countries like ours such as Cyprus, which has one of the lowest cost of living rates in Europe (0.9%)."

"It is clear that Robert Abela's Government has now completely lost touch with the realities faced daily by Maltese and Gozitan youths, families and the elderly, including the cost of living crisis and ever-rising prices - including those of basic everyday products as well as others such as property prices, the PN said.

"On the other hand, the PN continues to remain in touch with the people and is working to develop policies that will ensure a better quality of life for Maltese and Gozitan citizens in the face of the challenges they are encountering."

Just last Sunday, Leader of the PN Alex Borg, outlined a number of concrete proposals that a new Nationalist Government would introduce to ease the burdens being carried by families - from youths to the elderly, it said. IT said that these proposals include: "The removal of tax on the Cost of Living Adjustment (COLA) so that workers benefit from the full increase; A tax exemption on the first €10,000 earned from overtime and part-time work; A reduction in the VAT rate for food establishments from 18% to 7%; The removal of all tax on all income of pensioners - after Abela misled pensioners when he told them they would be exempt from paying any tax on their income, only to then issue a legal notice which merely increased the non-taxable pension threshold, meaning they will still continue to pay tax as before on part-time work or on income from rents or investments."

The PN said it remains determined to continue exerting pressure on the Government so that families are not left to drown under the burden of the cost of living and so that serious and effective measures are taken that truly provide relief to the people.