Figures released today, 5th May 2017, by the Isle of Man'x Economic Affairs department show the annual rate of inflation decreased from 2.2% in March 2017 to 2.1% in April 2017.

Whilst this is a slight reduction there are a number of upward inflationary pressures that are impacting upon household budgets ie housing, water, electricity, gas, recreation etc. Heating oil prices have remained stable over the month, due to the impact on Brexit on the exchange rate, but it is still more expensive than 12 months ago.

The full Inflation Report can be viewed here.