Finance and Employment Minister Clyde Caruana has confirmed that in 2025, the Cost of Living Adjustment, an annual wage adjustment paid out by employers based on the previous year’s inflation, will be around €5-€6 per week.
This is a far cry from the record €12.81 of last year, indicating that inflation has cooled off.
Minister Caruana shared the news at a business breakfast organised by the Times of Malta on Thursday ahead of the 2025 Budget announcement on 28th October.
His announcement also follows projections made by the Malta Employers Association, which calculated the 2025 COLA to be at around €6.
The COLA is meant to increase wages by an amount corresponding to cost-of-living increases, as calculated by the Retail Price Index measure of inflation.
In 2024, several companies reported lower profits despite increased revenues, due to increased operating costs. Part of those operating costs were the impact of wage adjustments due to inflation.
Expansion to Bristol and Berlin brings eCabs Technologies footprint to five cities
Prime Minister, Transport Minister visit new eCabs HQ as tech firm teases first move outside Europe
Svetlana Maslova steps down as COO of HSBC Bank Malta plc
She has over 17 years of experience working with HSBC.
‘Never say never’ – APS Bank CEO refuses to shut the door on HSBC bid
Marcel Cassar stated that APS Bank will be looking at other strategic opportunities, pointing to a ‘liquidity warchest’ of over ...
Christina Zammit La Rosa reflects on hands-on leadership after unpacking 13 pallets of stock
‘You can’t lead what you don’t understand.’
