Inflation drops in December

2.5% at end of year

The rate of inflation in the Isle of Man fell by 0.7%% last month.

As measured by the Consumer Prices Index, it dropped to 2.5% at the end of December, down from 3.2% in November.

The Economic Affairs Division of the Cabinet Office says transport, housing, water, electricity gas and other fuels continue to be significant drivers of inflation. Heating oil, whilst falling over the month, remained higher than it was 12 months ago.

The cost of food and non-alcoholic drinks has dropped slightly over a 12 month period.

Other notable movers during 2018 were household equipment which went up 20.1% . . kennel fees up 20% and tobacco up 14.1%.

Categories which saw a marked fall during the year included tea, down almost 14%, eggs which decreased by 8.8% and usefully, painkiller tablets, down 8%.

The figure, as measured by the Retail Prices Index, stood at 2.6%.