Inflation falls to 1.6%

Mon, 13 Aug 2018

Inflation on the Isle of Man fell last month.

The Consumer Price Index stood at 1.6% at the end of July, down from 2.5% in June.

The Cabinet Office puts the fall down to the exchange rate between the pound and euro, as well as sales and discounting on clothing and recreation.

Oil and fuels, kennel fees and butter are all significantly more expensive that at this time last year, while fruit, tea and poultry have all fallen.