October inflation down to 0.9%

Fri, 15 Nov 2019

The latest inflation figures for October show inflation decreased on the Island from 1.1% to 0.9%.

The IOM Cabinet Office data shows the main drivers for the decrease were housing, water, electricity, gas and other fuels, with oils and other fuels reduced by 3.6%.

Rent in the private sector decreased by 3.3%, with a low inflationary pressure across all of the other categories, with Recreation and Culture being the most significant.

Whilst prices are continuing to increase, they are doing so at a lower rate than in September, having contributed 0.2% in October compared with 0.4% in September.

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