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Inflation at 16-month low

A further fall in the Isle of Man's annual rate of inflation is being welcomed by Treasury Minister Eddie Teare.

It stood at 4.7 per cent as 2011 drew to a close, the lowest it's been for 16 months.

It's the fourth month running the Island's inflation rate has fallen, and Mr Teare says he hopes the trend will continue into 2012.

Inflation peaked at 6.8 per cent in August last year, have been in negative territory in June 2009.

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