Issue link: https://maltatoday.uberflip.com/i/1500237
13 NEWS maltatoday | SUNDAY • 28 MAY 2023 JAMES DEBONO FOODSTUFFS bought from grocer shops and supermarkets have experi- enced the greatest increase in prices, according to 45% of respondents in a MaltaToday survey. The findings confirm the figures pub- lished by the National Statistics Office that shows food prices as being the most significant factor in pushing infla- tion up. The survey found that 12% of respond- ents indicated other products bought from grocer shops and supermarkets as having registered higher prices. This was followed by 11%, who indi- cated the price of food and drinks from restaurants and catering establish- ments, and 10% who reported higher prices for health services. But in a clear sign that the Maltese have been sheltered from the hike in international energy prices, only 1% re- ferred to an increase in their utility bills. Respondents aged under 50 years of age (15%), respondents with a tertiary education (14%) respondents from Gozo (19%) and non-voters (18%) were the most likely to report an increase in restaurant prices. In contrast only 3% of 65 year referred to the increase in restaurant price. But older respondents were the most like- ly to report an increase in the price of health services (19%). 16- to 35-year-olds were also the most likely to report an increase in housing costs (9%) in contrast to just 1% of over 65-year-olds. Food prices most impacted by inflation In contrast the highest percentage of people who at the end the month have enough money to save for a holiday and for emergencies is highest in the more afflu- ent Western region (47%), which includes Ħaż-Żebbuġ and Attard. The survey shows that 44% of people who live in the Northern region, which includes Mosta, Naxxar and St Paul's Bay, are left with enough money to save for a holiday and emergencies. Gozitans are the most likely to invest and save money for the future (22%) in contrast to inhabitants in the South-Eastern region where none of the respondents do so. But in an indication of greater frugality, 33% of Gozitans compared to 37% of all Maltese say they have enough money to save for emergencies and holidays. Overall, the highest percentage of re- spondents who live comfortably but have no money to save for holidays and emer- gencies is found in the South-Eastern re- gion (39%) and the Northern Harbour (34%). As expected, respondents with a tertiary education who are more likely to have bet- ter paid jobs are the most likely to save and invest in their future (5%) or to save for holidays and emergencies (44%). PL voters feeling the pinch less than other voters The survey also suggests that Labour vot- ers are left with more money at the end of the month than both PN voters and non-voters. This raises the question on whether po- litical allegiance impacts the way people perceive their financial situation, especial- ly when one considers that the PN has tra- ditionally included a larger cohort of mid- dle-class voters and Labour a larger cohort of working-class voters. While only 7% of present PL voters said they do not make ends meet at the end of the month, the percentage of people in this situation rises to 19% among PN voters and 14% among non-voters. In contrast while 55% of PL voters have enough money left to save for holidays and emergencies, this percentage dropped to 24% among PN voters and 27% among non-voters. Substantially less money than last year Respondents were also asked on how their present financial situation at the end of the month compares to last year. The survey shows that around 70% said they are worse off than last year. But while 27% said they are left with slightly less money than last year, 43% said they are left with substantially less money than last year. Less than 3% are left with more money than last year while 27% said they are left with the same amount of money as last year. The survey shows that non-voters and PN voters were more likely to say that they have substantially less money left than last year. While only 19% of PL voters said they have substantially less money left than last year, the percentage increased to 57% among PN voters and to 57% among non-voters. Younger people aged between 16 to 35 were the most likely to report an im- provement on their personal financial situation (7%) compared to less than 1% among 51- to 65-year-olds. But this age group was also the most likely to report a decrease in their disposable income over the past year (49%). Over 65-year-olds were the most likely to say that their personal situation has remained the same as last year (36%), while 36- to 50-year-olds were the most likely to report a slight decrease in in- come (34%). Less disposable income for women Women were also substantially more likely to report a decrease in disposable income when compared to last year. While 52% of women said that they have substantially less money at the end of the month than last year, only 36% of men reported being in the same situation. On a regional level the Gozitans were the most likely to report having more money at the end of the month (7%) while respondents in the Northern Har- bour (49%) and the Southern Harbour (46%) were the most likely to report a substantial decrease in disposable in- come. struggling to make ends meet What is the state of your finances at the end of the month?