Slight inflation drop

Wednesday 21st September 2022 12:00 pm
Share
()

Subscribe newsletter

Subscribe to our email and get updates right in your inbox.

Inflation dropped for the first time since April last month as the rate fell from 10.8% to 10.4%.

August’s figures have been published by the Statistics Isle of Man department in the Cabinet Office, showing a 0.4% drop in the overall inflation rate in a month.

Housing, water, electricity, gas and other fuels continue to be the highest contributors to the rate of inflation, with a rate increase of 27.5% on a year ago.

All prices in this section have seen rises when compared to the figures of 12 months ago, with ‘oil and other fuels’ seeing the biggest rise with 86%.

Transport has been the second highest contributor with a rate of 12.7%, despite seeing a drop of 9.6% since July 2022.

‘Petrol and oil’ was the highest riser in this category, with 39.1% increase from August 2021.

The third biggest contributor to the inflation rate was ‘hotels and restaurants’, with a rise of 11.5% since August 2021.

Catering was the biggest increase of this section, with the rate rising 12% over the last year.

The cost of health increased by the least (0.5%).

More About:

Share

Comments

To leave a comment you need to create an account. |

All comments 0