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Government controls 22% of Retail Prices Index items

Wed, 11 May 2011


The price of over a fifth of goods which make up the Island's inflation rate are controlled by the Government.

 

22% of items used to calculate the Retail Prices Index have their value set by Government.

 

This is also the case for 17% of the Consumer Prices Index.

 

The statistics were revealed by Treasury Minister Anne Craine in a House of Keys written answer

 

As of March, inflation on the Isle of Man stood at 6.7%.

 

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