There has been a big drop in the rate of inflation in the Isle of Man, according to the government’s measure.

The annual rate stood at 3.3% in October - down from 4.2% the month before.

The government uses the Consumer Prices Index to measure the change in the cost of living.

It showed that the cost of transport was down from the month before, although it’s still 4.8% more than the year before.

The figures show a 24.2% rise in the cost of air travel, while sea travel actually fell 1.4% over the previous 12 months.

Petrol and oil were up 3.3%, buying a vehicle was 1.5% more expensive and maintenance of vehicles rose 3.8%.

Other big rises recorded included:

Multivitamins - 15%

DIY materials - 20%

Heating oil and other fuels - 16.2%

Cooking oils and fats - 16.2.

Biscuits and cakes - 11.8%

Fish - 10.7%

Butter - 11%

Tea - 11.9%

Bread - 6.3%

Beer (off sales) - 7.8%; Beer (on sales) 3.4%

The cost fell over the 12 months for other purchases.

They included:

Subscription to the internet down 9.8%

Bacon - 6.4%

Women’s outerwear - 5.5%

Children’s outerwear - 10%

Some of the findings seem odd. For example, why is outerwear for children and women cheaper than a year ago, yet for men it’s 3.5% more expensive?

Another big item of expenditure for many is rent, which rose by less than the rate of inflation, at 1.3%, while rates rose 6.4%.

The government’s economic affairs division, which compiles the statistics says that a driving factor for increasing food prices is the weaker pound.

This means it’s more expensive to import food from abroad.

The government’s official statistics are compiled using a basket of goods based on the results of a household income and expenditure survey in 2013.

The relevant importance of each item is taken into account by weighting products according to the average expenditure on each.

Currently, about 1,000 prices are collected for 500 items by staff from the government’s economic affairs division.

Staff contact businesses by letter, phone, visits and by browsing internet shopping sites.

About 100 organisations take part.

The Retail Prices Index measure of inflation, which has different weightings and which is used to calcuate some pensions, stood at 6.1% for October.

The Bank of England increased the rate of interest for the first time in 10 years last week to try to curb inflation.