Consumer Prices Index Increase (CPI)
- The annual rate of inflation as measured by CPI increased in December 2017 and now stands at 4.1%, up from 3.8% in November 2017
- In December 2017 inflation has been driven by rising prices across all categories of goods and services on the Island. Transport and Restaurants and Hotels have continued to be a significant driver of inflation, however Food and Non-Alcoholic Beverages has also become a significant cause of inflation this month.
- The cost of travelling off the Island has continued to increase, as have meals out and drinks in bars and pubs. The cost of most groceries has also increased compared with 12 months ago, with the exception of fruit and beef which is slightly cheaper.
- There is an underlying impact of a weak pound against the Euro and the increasing price of oil which is outpacing the recovery of the pound against the dollar having an impact across a number of categories.
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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