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Inflation: upward trend continues

Inflation in the Isle of Man is fast approaching seven per cent, according to the latest government figures.

The General Index of Retail Prices shows a rise of 0.4 per cent, from mid-July to mid-August.

There has been a steady increase in inflation, from a low of minus one per cent, just over two years ago.

Several categories have shown big rises in the past twelve months, such as vehicle tax and insurance, up 33 per cent, and gas up by over 25 per cent.

Oils and other fuels cost three and a half times more than they did in the year 2000, and other sizeable hikes over the eleven year period include rent, gas, fruit, vegetables and fish.

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