Inflation levels to stabilise

Fluctuations over for now - Thomas

A government minister says he expects inflation in the Isle of Man to remain at a similar level in the short term.

Official figures put the Consumer Prices Index (CPI) at 4.6% in July - up 0.6% from June.

That's in stark contrast to the picture twelve months ago, when the economy was in a period of deflation.

The CPI rate in July 2016 was -0.3%.

Policy and Reform head Chris Thomas says the effects of Brexit, and increased transport costs, are major factors in last month's rise.