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Inflation falls but food prices still rising

Consumer Prices Index stood at 8.5% at the end of April

Inflation on the Isle of Man has fallen to 8.5%, but food prices are continuing to rise according to the Consumer Prices Index.

The rate for April is down from 9.1% in March.

Despite inflation dropping, figures show eggs are almost 60% more expensive than they were 12 months ago, while pork and biscuits have also risen significantly in cost, with government describing food and non-alcoholic beverages as the biggest contributor to inflation.

Restaurants, hotels and catering are also driving factors in inflation, while gas, oils and other fuels and travel costs have all fallen.

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