CONSUMER PRICES INDEX DECREASE (CPI)
- The annual rate of inflation as measured by CPI decreased in October 2017 and now stands at 3.3%, compared to 4.2% in September 2017
- The rate of inflation has fallen by 0.9% from September 2017, and now stands at 3.3% for October 2017
- As with previous months, the largest contribution to inflation was transport. Although, transport was cheaper than last month, it is 4.8% more expensive than this time last year. Other large contributors came from Food and Non-Alcoholic Beverages and Restaurants and Hotels. The driving factor behind increasing food prices continue to be a weaker Euro exchange rate than was present 12 months ago, which impacts upon many groceries
- Much like last month, Clothing and Footwear was cheaper and therefore, did not contribute to inflation. Interestingly, neither did Recreation and Culture which was one of the biggest factors to the increase last month, as a result in a reduction in some leisure services and some sporting activities
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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