On Thursday, the government of Malta signed an agreement with importers and retailers to cut the prices of around 400 of the most-consumed food items by at least 15 per cent.

Prime Minister Robert Abela and Minister for Economy Silvio Schembri said the agreement will stabilise food prices for families.

Abela told a press conference that the agreement aims to stabilise the prices of 15 essential food categories, guaranteeing that the price of around 400 products will not rise when the government announces the 2025 budget in October.

The agreement will come into force from February 1.

The products from the 15 chosen food categories include spaghetti and penne, corned beef, tuna in vegetable or soya oil, fresh and frozen pork chops, and chicken legs.

Other items include tea and instant coffee, frozen peas, broccoli and spinach, straight-cut frozen friable French fries, and long-life milk.

The prime minister said the initiative boosted the purchasing power of families.

Besides food prices, the government has also been trying to stabilise energy prices with subsidies, Mr Abela added.

However, small stores which do not benefit from economies of scale and do not have a sales turnover of more than €800,000 a year will be given €125 per month by the government to make up for the reduction in profits.

More than 200 shops have agreed to participate in the scheme, with this number expected to grow.

(Xinhua/NAN)