Jersey's inflation rate falls to 5.7%

Friday, 26 April 2024 10:39

Jersey's inflation rate has fallen to 5.7% That is down from 7.5% at the end of last year.

It means, while prices continue to rise, they are increasing at a slower rate.

The 7.5% figure recorded in December 2023 was the first to be in single digits since September 2022. Inflation in Jersey peaked at 12.7% in December 2022.

Higher mortgage interest payments and housing costs continue to drive up the cost of living in the island.

Food inflation is down to 3.7%, compared to 5.9% in December.

Duty increases that took effect in January contributed to higher prices of alcohol (up 5.4%) and tobacco (12.2%).

Jersey's RPI is now a little lower than Guernsey's 5.8%.

The UK's Consumer Prices Index was 3.2% for the 12 months to March, down from 3.4% in February.

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