On Air Greatest Hits Chris Kinley | 6:30pm - 9:00pm

RPI stabilises after dramatic fall in summer

Inflation has fallen over the past month, with the Retail Price Index currently standing at zero per cent.

Statistics released by the Manx Treasury shows the rate dropped from 0.1 per cent in September, and the Island's annual rate of inflation excluding housing costs stood at 2.6 per cent.

Detailed figures show over the last year the largest price increases have been in milk products and furnishings, both up more than 16 per cent, and coal, which has risen more than 20 per cent over twelve months.

The latest government statistics suggest the Retail Price Index has stabilised, after plummeting into deflation during the summer.

More from Isle of Man News