Inflation in Jersey continues to climb but at a slower rate

PA IMAGES - Phone with energy bill on it and some change at the side, fuel pump and man in supermarket
Inflation figures for Jersey have continued to climb, but at a slower rate. Credit: ITV Channel

The rate of inflation has continued to climb in Jersey, but at a slower rate compared to last year.

In the last 12 months, prices have increased by 10.9%.

Rises in housing, food and travel costs have all contributed to the increase.

Food prices in the island have seen a 15% change in the past year.

The previous Retail Price Index (RPI) released in March 2023 was 12.7% - significantly higher than Guernsey's rate of 8.3%.

In the last week, the UK's most recent rate of inflation was released and showed a drop of nearly 1% - now sitting at 7.9%.

Whilst inflation continues to climb in Jersey, it does however show signs of slowing down.

The 12-month increase in the RPI to June 2023 was less than that seen in March 2023 (12.7%).

Islanders will continue to see prices climb. Credit: ITV Channel

The annual rate of inflation has however decreased by 1.8% since last quarter.

One of the main factors which caused a decrease in the annual rate of inflation was the motoring group and the decrease in the petrol and oil section over the last 12 months. 

The latest inflation figures for Guernsey are expected to be released on Tuesday 25 July.

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