On Air Greatest Hits Mike Reynolds | 6:30pm - 9:00pm

Post-lockdown spending driving up inflation

Increased demand means retailers aren't cutting prices

Spending after lockdown is driving prices for shoppers up.

That's according to KPMG after the Island's inflation rate rose to 3.7 per cent.

Partner Simon Nicholas says many households saved money while being unable to travel at the height at the pandemic.

But now increased demand means retailers don't need to cut prices:

More from Isle of Man Business