Consumer inflation hits 19-month low

Wednesday, 16 August 2023 11:34

Latest figures show a dip by 1.1%

Consumer inflation in the Isle of Man has fallen, standing at 5.8-percent for July, down from 6.9-percent the previous month.

Food and non-alcoholic drinks are the biggest contributor with pork seeing the highest rise of 34.6-percent compared with twelve months ago.

Essentials like electricity, eggs, sugar and butter are some of the biggest contributors, with electricity rising by as much as 34.8-percent.

Restaurants and hotels hold the second largest increase and alcohol and tobacco are in third place.

Meanwhile, oil and other fuels fell by the most at 27.5-percent, while petrol and gas also seeing drops.

In comparison to twelve months prior, education is down by 9.9-percent, clothing and footwear is up by 1.3-percent.

Health is also up at 5.1-percent, while recreation and culture also seeing rises of 8.8-percent.

The report in full can be seen HERE.

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