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Inflation Reaches 6% 14 October 2004

Rising world energy prices continue to be the largest factor in the increase in the Island's rate of inflation. The Fuel & Light category has shown an increase of 23.8% over the twelve months to September.

During the month mortgage interest rates also rose contributing to a 7.8% rise in the Housing category over the year. Over the month to mid September the largest increase was also in the Fuel and Light index which recorded a rise of 6.1%. Not all categories showed an increase. There was good news in the form of price decreases in the Household Goods (down 1.4%) and Clothing (down 0.2%) categories.

The annual rate of inflation now stands at 6.0%.

The General Index of Retail Prices is currently 116.5 (January 2000 = 100.0).

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