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Inflation holds firm in July

The Isle of Man's annual rate of inflation remainedĀ at 6.4 per cent in July.

The figure excluding housing costs went down to seven per cent, from 7.3 per cent in June, while inflation measured by the Consumer Prices Index, as opposed to the Retail Price Index, fell from 6.3 to 6.1 per cent in the same period.

The categories with the biggest increases in the past 12 months were fuel and light, up 13.8 per cent; clothing and footwear, up 13.2 per cent; tobacco, up 10.3 per cent; and food, up 9.4 per cent.

Overall, the cost of items in the Retail Price Index have risen by just over 150 per cent since the index was reset at 100, in January 2000.

In the same period, the cost of food has doubled, while fuel and light costs two and a half times more than in did eleven years ago.

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