Inflation

Key Points

• CONSUMER PRICES INDEX INCREASES (CPI)
• The annual rate of inflation as measured by the CPI increased in May 2017 and now stands at 3.9%, compared to 2.1% in April 2017.
• The rate of inflation is now at its highest since February 2012 and has been caused by increases across all of the 12 categories of the basket.
• Three categories account for 2.3% of the rate of inflation during May, these being Transport, Recreation and Culture and Restaurants and Hotels. Transport has seen increased prices from 12 months ago across petrol, sea travel and air travel, with key routes such as Liverpool and Manchester seeing significant price rises compared with 12 months ago, at both the 6 week and 3 month booking intervals.
• The cost of dining out has increased significantly over the past 12 months, with both the cost of food and alcohol rising. The cost of children's toys, sporting equipment and pet care has also increased over the 12 months to May 2017.

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.