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Inflation Over 5% 1 September 2004

Rising energy prices have been the single largest factor in the increase in the Island's rate of inflation recorded in August.

The annual rate of inflation now stands at 5.2% but within this overall figure the category of Fuel & Light has shown an increase over the last year of 16.4%.

Further increases in mortgage rates were another source of upward pressure on the inflation rate. Excluding the housing costs category, the inflation rate went down from 4.9% in July to 4.7% in August.

Over the last twelve months decreases in prices have been recorded in Clothing (down 0.6%) and Leisure Goods (down 0.3%).<> The General Index of Retail Prices is currently 115.3 (January 2000 = 100.0).

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