Consumer inflation increases by 0.5%

May's figure stands at 2.7 percent

Consumer inflation rose by 0.5 percent last month bringing the overall rate at which prices are rising to 2.7 percent.

Education saw the largest increase in the 12 months to May 2024, with 'pre-school fees' being the biggest contributor, rising by 12.7 percent.

Restaurants and hotels alongside the catering industry as a whole also contributed to the increase, having risen 5.9 percent and 6.4 percent respectively.

Multivitamin tablets, gas and bread see the largest decreases over the annual period.

Electrical appliances, fruit and household consumables also helped eased the overall rise.

Over a one month period, 'communication' saw the largest jump by 1.9 percent.  Meanwhile, alcoholic beverages and tobacco experienced negative inflation by a factor of 0.7 percent.

The Isle of Man experienced the lowest inflationary figure in April 2024 in a three-year period, falling to 2.2 percent.