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Iran effect looming in Guernsey's latest inflation figures

RPI has risen to 4% for the three months ending March.

Inflation has increased in Guernsey over the past quarter, as it has in the UK.

This follows the US action in Iran and the blockade of the Strait of Hormuz, leading to exceptional price rises and volatility in the global oil market.

The latest States' Bulletin shows a lag in motor fuel inflation but the price of kerosene, for heating oil, has had an inflationary effect.

Inflation over the year has actually dropped by 0.2% but is up 0.6% in the three months to March '26.

Food and housing costs increased over the March quarter, as the effect of annual price rises - including States utilities - took effect.

Both RPI and RPIx - which excludes mortgages - stand at 4%.

Jersey's most recent inflation figure is 2.7% and the UK's rate for March '26 was 3.3%.

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