New inflation figures great for Manx consumers

Fri, 04 Sep 2015

Inflation figures for August spells 'good news' for consumers.

That's according to Chief Minister Allan Bell.

The annual rate of inflation has increased, and stands at -0.8 per cent, up from -1.5 per cent in the previous month.

The Retail Prices Index (RPI) says it's increased to 2.6 per cent.

Excluding housing costs, it's at 2.4 per cent - down from 2.7 per cent at the last count.

Mr Bell explains what that means for residents: