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Inflation Falls To 18 Month Low

Friday, 26 January 2024 10:48

Jersey's inflation rate has fallen to single figures for the first time since September 2022.

Prices have jumped by 7.5% of the 12 months to December 2023, the slowest rise since March 2022.

It was at 10.1% previously.

Housing costs were again the biggest rise, jumping nearly 17%, due to high-interest rates and costly utility bills.

The food shop is 5.9% more expensive than last Christmas.

Despite the drop, the island's inflation rate is still the highest of anywhere in the British Isles.

Guernsey's rate has fallen to 6.3%, while the UK's unexpectedly rose to 4%.

Jersey's new Chief Minister, Lyndon Farnham, says the high cost of living is one of his 'key priorities' for his government.

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