Inflation

Key Points

Consumer Price Index decreases (CPI)

• The annual rate of inflation as measured by CPI decreased to 1.6% in July 2018, down from 2.6% in June 2018

• Inflation as measured by the Consumer Price Index stood at 1.6% for the 12 months to July 2018

• The rate of inflation has reduced in July as a result of a number of factors which impacted during the month. The impact of the £/EUR exchange rate which has been present during much of the previous 12 months has fallen away

• Sales and discounting within the Clothing & Footwear and Recreation & Culture categories has also impacted on the overall rate of inflation, with prices falling for many items and services in these categories

• Whilst there continues to be upward pressure from increasing oil costs, on both petrol and oil for heating, travel costs have been causing lower upward pressure on inflation than in previous 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.

Provisional Release Dates for the Isle of Man Inflation Report