Euro area annual inflation was 0.7% in February 2014, down from 0.8% in January. A year earlier the rate was 1.8%. The inflation rate in Malta was recorded at 1.60 percent in February 2014. The highest annual rates were recorded in Malta and Finland both 1.6% and Austria with 1.5%. These figures come from Eurostat, the statistical office of the European Union. In Malta, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods.