Inflation drops to 1.9%

CPI down from 2.6% in January

Inflation on the Isle of Man has fallen below 2% for the first time since July last year.

The Consumer Prices Index dropped to 1.9% in February, down from 2.6% in January.

The Cabinet Office says reduced pressure from housing, water and electricity are among the reasons for the fall.

Air travel, eggs and tea are all significantly cheaper than they were 12 months ago, while tobacco, internet subscriptions and wine and spirits have all increased in cost.