Consumer Prices Index Increase (CPI)
- The annual rate of inflation as measured by CPI increased in November 2017 and now stands at 3.8%, up from 3.3% in October 2017
- As with previous months, there are three categories that have driven the rate of inflation for November 2017; Food & Non-Alcoholic Beverages, Transport and Restaurants & Hotels.
- The cost of Transport to and from the Island contributed 0.7% towards the 3.8% and primarily relates to the cost of sea travel (6.3%), with air travel showing only moderate price inflation of 1.1%.
- The cost of groceries continued to increase over the 12 months, up 4.3% over 12 months and contributing 0.6% to the overall rate. This is being driven by a weak pound, particularly against the Euro.
- The cost of meals out and drinks at pubs and bars has continued to increase compared with 12 months ago, and there continues to be inflationary pressures throughout the whole basket of goods and services on the Island, with the exception of Clothing and Footwear, which is slightly cheaper than 12 months ago.
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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