The island’s rate of inflation has dropped.
According to new statistics released by the government today, the annual rate of inflation as measured by the Retail Prices Index (RPI) decreased to 2.6 per cent in
August 2013, down from 3.2 per cent in July.
Excluding housing costs, the annual rate of inflation shown by the RPI also decreased, to 2.6 per cent in August.
The annual rate of inflation shown by the Consumer Prices Index (CPI) was 1.6 per cent in August 2013.
The Consumer Price Index excludes mortgage interest payments and household expenditure such as buildings insurance.