Inflation falls to 7.4 per cent

Gas prices still a big contributor

Inflation on the Isle of Man fell to 7.4 per cent in December - down from 7.9 per cent the month before.

The latest report shows housing, water, electricity, gas and other fuels continues to be the biggest contributor with an increase of 22.9 per cent, with gas seeing the biggest increase of 60.9 per cent.

Meanwhile the second biggest increase, contributing 13.1 per cent to the Consumer Prices Index, is food and non-alcoholic beverages.

Bus and coach fares, capped at £2 from November, saw a decrease of 10.2 per cent.