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Small increase in inflation in January

CPI rises from 2.5% to 2.6%

Inflation in the Isle of Man rose slightly last month.

The Consumer Price Index increased from 2.5% to 2.6% in January, according to the latest figures released by the government's Economic Affairs Division.

The report lists transport costs as the main driver of inflation due to the cost of air and sea fares.

The cost of housing has also risen, along with education services such as nursery fees and the cost of courses at University College Isle of Man.

The Retail Price Index jumped from 2.6% to 3.5% over the same period.

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