Fall in Island's inflation in October

Near 1% fall in annual CPI rate

Inflation in the Isle of Man fell last month - by just under 1%.

The annual rate measured by the Consumer Prices Index (CPI) stood at 3.3% in October, down 0.9% on the previous month.

There were falls in the cost of clothing and footwear and internet subscriptions - along with recreation and culture, a category largely responsible for September's rise in inflation. 

The rising cost of transport continues to stoke Island inflation, standing 4.8% higher than this time last year.

Among other categories where prices rose in October - food and non-alcoholic beverages, and restaurants and hotels. 

The Economic Affairs Unit of the Cabinet Office, which produces the figures, says a weaker Euro exchange rate was the driving factor.

Inflation measured by the Retail Prices Index (RPI) stood at 6.1% in October, a month-on-month fall of 1.1%, but the same as in September 2016.