The annual rate of inflation as measured by the Retail Prices Index (RPI) has increased to 2.7% in May 2014 from 1.9% in April 2014.

Excluding housing costs, the annual rate of inflation shown by the RPI has also increased in May and now stands at 2.8% up from April’s figure of 2.2%.

The annual rate of inflation shown by the Consumer Prices Index (CPI) increased to 1.6% up from 1.0% in April 2014.

For more information on Inflation indices please visit -

https://www.gov.im/categories/tax,-vat-and-your-money/inflation/

where a guide has been published to explain the different methods.