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Island's inflation rate drops

Fri, 04 Nov 2016

The Isle of Man's inflation rate fell but remained positive last month.

The Consumer Prices Index dropped from September's rate of 1.2% to 0.9% in October.

Tea was the item to see the biggest jump in cost, rising 13.8% over the last year, while air travel and potatoes have also seen jumps of more than 10%.

However, sugar and preserves, bacon and other meats have all seen their prices drop.

Prior to September, the CPI had been negative since April 2015.

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