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Hard times for motorists

Annual inflation in the Isle of Man has hit a new two-year high, according to the latest figures from the Manx Treasury.

In March the figure went up to 6.7 per cent, a rise of 0.6 per cent on the previous month.

The annual rate of inflation excluding housing costs, as shown by the Retail Price Index, went up from 6.8 per cent in February to 7.6 per cent in March, and the inflation figure as shown by the Consumer Price Index increased from 5.6 per cent in February to 6.6 per cent last month.

The detailed breakdown shows motorists suffering more than most from the price hikes.

Over the last year, vehicle maintenance has risen by more than 15 per cent, petrol and oil by 8.5 per cent and insurance and tax by almost 36 per cent.

Other big increases include butter (23.9 per cent), oil and other fuels (22.4), chemists' goods (19.9), fish (19.4), gas (18.9), household consumables (18.7), bus and coach fares (10.6).

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