Clothing and footwear costs contribute to August inflation drop

Transport continuing to experience price rise

Inflation in the Isle of Man stood at 1.4 per cent in August, down from 2.3 per cent in July.

The latest report, published by government, shows transport continues to be the greatest contributor to inflation with petrol and diesel up by 13.7 per cent and driving lessons by 16.7 per cent.

There were also increases in DIY materials and heating oil within Housing, water, electricity, gas and other fuels.

Meanwhile, miscellaneous goods and services and clothing and footwear were the two greatest contributors to bring down inflation last month.

Within the latter, footwear experienced a fall of 15.1 per cent, followed by children's outerwear at 14.4 per cent.

You can read the full report here.