Malta is keeping costs down with some wage-raising restraint

Malta has seen one of the lowest rises in hourly labour prices among Euro area nations, according to the most recent Eurostat poll.

Malta experienced a minor growth in the first quarter of 2023 of 2.4%, whereas Lithuania, Bulgaria, and Romania all experienced significantly larger increases in the range of 13.2% to 15.7%.

According to figures from the European Union’s statistical office, the average increase in hourly labor costs over the same time compared to the prior year was 5.0% for the euro region and 5.3% for the EU.