Inflation Dips Slightly To 10.1%

Friday, 20 October 2023 11:12

Jersey's cost of living has dipped slightly to 10.1%, down from 10.9% in June.

It's the second dip in the cost of living since it hit a 40-year high of 12.7% last December.

However, Jersey remains with the highest inflation rate in the British Isles. The UK's RPI is 6.7%, while Guernsey's sits at 7.3%.

Statistics Jersey says the cost of housing was the most significant factor in the double-digit price increases, increasing by 26.2% over the year.

That's down to costly mortgage repayments.

The last 12 months have seen the Bank of England increase its base rate eight times, squeezing the packets of mortgage holders and those paying back credit cards and loans.

Grocery bills also jumped by 10%, adding an extra £20 a month to a £50 weekly shop.

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