Inflation Drops To 8.3%

Inflation in Guernsey has dropped slightly over the first three months of the year.

The RPI figure for March 2023 is 8.3%. This is a decrease of 0.2% from the 32-year high figure in January 2023.

When mortgage interest payments are excluded from the rate (the RPXI figure) it decreases to 8.0%.

The biggest drivers were food and travel.

UK food inflation is 17.3%, while Guernsey's runs at 12.8%.

Food staples in Guernsey, such as milk, cheese and cereals, have all increased in price, as have some takeaway food options.

The bulletin can be read in full here.

Jersey will announce its quarterly inflation figures tomorrow.  In January it was 12.7%.

Inflation figures for Guernsey are published every quarter, and the next update will be 25 July 2023.