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Inflation rise in the Island

Inflation is continuing to rise in the Isle of Man, pushed up in the main by the increase in United Kingdom interest rates.

The extra cost of mortgages has taken the Manx inflation level to 4.4% in June, 0.2% up on the figure for May.

Since last month the Bank of England has increased interest rates to 5.75%, which is also expected to affect the July figure.

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