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Manx Inflation Rate falls again

16th February, 2009

The Isle of Man's annual rate of inflation fell again last month. The figure, as measured by the Retail Prices Index dropped to 1.2% in January, from 2.8% in December 2008.The main reasons for the decrease were the Bank of England's 1% reduction in the bank rate and falls in the cost of gas, oil and petrol. The rate of inflation excluding housing, as measured by the Retail Prices Index, was 3.9% in January compared with 5.2% in December.

This is once again good news for our Isle of Man Parcels and Freight customers and hopefully if the downward slide continues throughout the year it will help stabilise ferry rates which are linked to IOM inflation.
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