Inflation falls again

Thu, 10 May 2012

Inflation on the Island has fallen to its lowest level in around two and half years.

Figures released by the government today show it fell from 3% to 2.5% last month.

Housing, tobacco and alcohol are some of things that saw a rise in prices over April.

Food prices remained at around the same level, while others such as clothing came down.

Treasury Minister Eddie Teare says this is perhaps an indication of increasing competition amongst retailers in a tight market.

Mr Teare welcomes the overall drop in inflation.