Inflation slows

Water, electricity and gas still driving figures

The rate of inflation in the Isle of Man fell by 0.3% last month.

As measured by the Consumer Prices Index, it dropped from 3.5% in October to 3.2% in November.

The Economic Affairs Division of the Cabinet Office says as with previous months, transport and housing, water, electricity, gas and other fuels continue
to be significant drivers of inflation over 12 months.

For transport, whilst petrol prices have fallen over the month, they still remain higher than they were 12 months ago, and travel costs both by air and sea continue to contribute.

Heating oil, which has increased despite global oil markets, and rent continue to be the driver in the housing category.