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Island inflation rises to 4.6% in July

Weak exchange adds costs for consumers

Inflation in the Isle of Man continues to rise.

Official figures put the consumer prices index (CPI) in July at 4.6%, up 0.6% on the previous month.

It's in stark contrast to the picture a year ago, when the economy was in a period of deflation - the rate in July 2016 was -0.3%.

The government's Economic Affairs Unit says added costs resulting from a weakened exchange rate are being passed onto consumers across a number of retailers, including groceries.

Categories contributing to July's upward inflation include transport, recreation and culture, and restaurants and hotels, due to increased costs of eating and drinking.

The retail prices index (RPI) last month rose by 0.5% to 8.5%.  

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