There has been a big rise in the island’s rate of inflation.
The rate, measured by the Retail Prices Index (RPI), has gone up from 2.4 per cent in May to 2.9 per cent for June.
Excluding housing costs, it rose from 1.9 per cent to 2.4 per cent. Measured by the Consumer Prices Index, it rose from 1.2 per cent to 1.6 per cent.
The Consumer Price Index excludes mortgage interest payments and household expenditure such as buildings insurance.
The month before, inflation fell. {http://www.iomtoday.co.im/news/business/big-drop-in-inflation-1-5724519|Click here to read that story}
The Treasury’s economic affairs division released June’s figures today.
For more details about this story, see Thursday’s Manx Independent.