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Inflation back in line with UK

May figure drops 1.8% on previous month

Inflation fell by almost half to 2.2% last month.

It's the lowest rate of increase since March 2017.

As measured by the Consumer Price Index (CPI) for the 12 months leading up to May, it represents a 1.8% slowdown in inflation on the previous month.

That brings the Isle of Man much closer to the UK rate of 2.3% in May.

Following a substantial rise in last month's figures, air travel fell this time by 8% - while oil and home heating fuel continues to lead price increases (+18.5%).

RPI for the same period also fell to 5.4%.

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