The Only Way is Up

The latest inflation report, compiled and published by the Statistics Isle of Man team at the Cabinet Office, shows inflation stood at 6.5% for February.

As in previous months, transport remains the biggest contributor, providing a 3% increase in the overall 12 months rate.

Within the transport category, air travel experienced the biggest increase (up 49.3%), while petrol and oil went up 23.3%.

The report says that housing, water, electricity, gas and other fuels have contributed to a 0.9% increase. However, within that, ‘oils and other fuels’ experienced a 48.8% increase in prices in 12 months.