On Air Now Jason King 2:00pm - 6:00pm
Now Playing Paloma Faith Til I'm Done

Inflation Hits 12.7 %

There is confirmation today of the rocketing cost of living in Jersey, with inflation now running at 12.7%.

It is the biggest increase since the early eighties, up from 10.4% in September when it had already hit a 32 year high.

Housing costs, fuelled by rising mortgage repayments because of the Bank of England increasing the base rate, and bigger energy bills are the main contributors (24.4% and 22.7% respectively)

Food prices have risen by 14.2%.

                       The Retail Price Index measures the average changes in the cost of goods and services.


Guernsey's latest RPI is 8.5%.

UK inflation figures  - released last week - show it dipped to 10.5% from 10.7% in November.  It had peaked at 11.1% in October 2022.

Bank of England officials, concerned about the dramatic rise in prices over the past year, are still expected to raise interest rates again at their meeting next month.

More from Jersey News

Channel 103 VIP

Become a Channel 103 VIP!