June figure stands at 6.9%
The Isle of Man’s inflation rate has dropped.
The rate, as measured by the Consumer Prices Index, stood at 6.9 per cent in June.
That’s down from 7.6 per cent in May.
Food and non-alcoholic beverages were the biggest contributor to the rate of inflation – they increased by 16 per cent; pork alone rose by 35.8 per cent compared to 12 months ago.
Restaurants and hotels showed the second biggest increase having risen by 13.4 per cent compared to the same time in 2022.
The third biggest contributor to the inflation rate was alcoholic beverages and tobacco – they rose by 8.9 per cent.
You can read the full inflation report HERE.
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