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Island's inflation rate jumps to five per cent

Up from 1.9 per cent from August

Inflation has continued to climb with the Isle of Man now recording an inflation rate of five per cent.

The figure for September is up by 1.9 per cent on the previous month.

Transport, housing, water, electricity, gas and other fuels and furniture, household equipment and maintenance are the three biggest contributors to the increase.

All items within the transport category experienced an increase in prices with air travel up by 68 per cent followed by petrol and oil at 17.1 per cent.

The Manx Government has also confirmed the Consumer Price Index rates - given for July and August - were wrong.

It's because of corrections to collected air fares being made in September.

July and August's figures of 2-3 and 1-4 are now altered to 4-5 and 3-1 respectively.

Decreases  are there but more modest with children's outerwear down by nine per cent, footwear down 19 per cent and coffee and tea dropping by eight per cent and 11.4 per cent respectively.

You can find the full report for September HERE

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