Inflation on the island climbed to 4.9% in April, with a 2% month‑on‑month rise driven largely by the surge in global fuel prices following the Middle East conflict.
Government says essential supplies remain stable, with no issues affecting fuel distribution, ferries or flights. Regulators report no immediate changes to gas or electricity prices.
An extra £100,000 has been added to the Energy Efficiency Scheme to help residents access free energy saving equipment, while wider support, including budgeting advice, debt counselling and links to charities, is available through the cost of living hub.
Chief Minister Alfred Cannan said: “The conflict continues to dominate global headlines, and our thoughts are first with those directly affected in the region. It is also putting strain on the global economy. Our immediate priorities in March and April have been to ensure we had confidence in the supply and availability of necessary items such as fuel.
“Today’s inflation figures reflect what we have already seen, and we appreciate that prices now built into the island’s economy are putting pressure on many households and individuals. As we have stated before, we will continue to look towards the longer term and be ready to offer targeted support if people need it. We will keep the situation under review and adapt our response as it develops.”
The Economic and National Strategy Board continues to monitor conditions and consider further action.
