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Home Lifestyle Home

Isle of Man inflation report published

February 17, 2023
in Home, Isle of Man, Lifestyle
Isle of Man inflation report published
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The latest inflation report, compiled and published by the Statistics Isle of Man team at the Cabinet Office, shows inflation stood at 8% for January 2023.

Inflation as measured by Consumer price index stands at 8.0% for January 2023, up from 7.4% in December 2022.

‘Housing, water, electricity, gas and other fuels’ continue to be the biggest contributor to the rate of inflation with an increase of 22.5%, with Gas seeing the biggest increase in this category of 60.9%.

‘Food and non-alcoholic beverages’, has seen the second biggest increase contributing 13.2% to the overall CPI, with prices rising 0.5% on the previous month. ‘Butter’, has seen the biggest increase in this category up 34.7% compared to 12 months ago.

The third biggest contributor to the rate of inflation was ‘Restaurants and Hotels’ contributing 12.4% to the overall CPI. ‘Catering’ has seen the biggest increase in this category (13.4%).

 

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Sue Fitzgerald

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