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'Global forces' to blame for higher inflation

by isleofman.com 15th January 2011


The cost of living in the Isle of Man increased by more than five per cent in 2010.

Latest figures from the Manx Treasury show annual inflation, measured by the Retail Price Index, went up to 5.5 per cent in December, from 5.4 per cent in November.

Clothing saw the biggest rise, up by 12.7 per cent over the year, with the cost of motoring next highest, at 12 per cent.

Fuel and lighting accounted for the largest part of the inflation figures, with costs there increasing by just over eight per cent.

Treasury minister Anne Craine has described the inflation rate as disappointing, and a real concern to those on low and fixed incomes.

She added global forces outside the control of the Manx government were primarily to blame.

Posted by isleofman.com
Saturday 15th, January 2011 07:34pm.

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