Inflation on the Isle of Man increased by 0.5% last month.
Inflation as measured by the Consumer Prices Index stood at 2.7% for May 2024.
The education sector saw the biggest increase to 6.5% compared to 12 months ago.
The second biggest increase is ‘Restaurants and hotels’, having risen 5.9% compared with 12 months ago. ‘Catering’ has seen the biggest increase in this category (6.4%).
The third biggest contributor to the rate of inflation is ‘Alcoholic beverages and tobacco’, which shows a rise of 5.6%. ‘Tobacco’ saw the largest rise (8.6%) in this category.
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