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Inflation rises to 1.6%

Fri, 03 Feb 2017

Inflation on the Isle of Man rose to 1.6% during January, up from 1% in the previous month.

Housing, water and fuels were among the reasons behind the increase to the Consumer Prices Index.

Heating oil is up 32% compared with this time last year, while petrol and diesel increased by almost an eighth over the same period.

Air travel jumped up by more than a quarter, but there were big falls for clothing and soft drinks, while gas is also down by 7%.

The Treasury also says the depreciation of the pound played a role in the changes.

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