The annual rate of Inflation in the Isle of Man has fallen again, but not by as much as some people predicted.
It dropped 0.2 per cent to one per cent last month, primarily due to a fall in mortgage interest rates.
It’s the third month in succession inflation has gone down, and Treasury Minister Allan Bell expects the pattern to continue for some time.
He told Manx Radio:
"We have been expecting the inflation rate to continue to fall.
"We thought perhaps it might have been marginally below one per cent by now, but one per cent is still the lowest rate it's been for seven years, and indeed the lowest beyond that for a great many years, so it is very much at an historic low.
"But we do expect it to continue to fall in the next month or two, because the last couple of bank rate reductions have not been included in this."
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