The Isle of Man has continuing to experience deflation.

That means that, on average, things cost less than they did 12 months ago.

It’s often a bad sign for an economy as people put off buying things in the hope that prices will drop further.

The rate of inflation for October 2020, as measured by the Consumer Price Index, stands at -0.3%.

The month before it stood at -1.3%

The prices that fell most are fuels.

Petrol is down 21.5% while oil has fallen by 35.7%.

The prices of many other items has risen.

For instance, pork is now 15.3% higher while postage rose by 8.8%.