Consumer Prices Index Increase (CPI)
- The annual rate of inflation as measured by CPI decreased in January 2018 and now stands at 3.8%, down from 4.1% in December 2017
- Whilst the rate of inflation has reduced from December 2017 to January 2018, there are still significant inflationary pressures impacting on the Island. The two greatest contributors to January rate are Food & Non-alcoholic beverages and Restaurants & Hotels, which account for 1.2% of the rate of inflation
- With the exception of poultry, all categories of food and non-alcoholic beverages have increased over the 12 months to January, along with the cost of going out to eat and drink. There is also continued inflationary pressure from transport costs, with rising petrol and off Island travel costs continuing to contribute. Rising oil prices have also impacted on housing costs, with heating oil having risen over the past 12 months
- As shown by Table 2 of this report, nearly all items throughout the basket of goods and services have shown an increase over the past 12 months
The figures are published monthly by the Economic Affairs Division of the Isle of Man Cabinet Office. Full details with further breakdowns are available in the downloadable document, which is updated monthly.
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