New inflation figures great for Manx consumers

That's according to Chief Minister Allan Bell.

 

The annual rate of inflation has increased, and stands at -0.8 per cent, up from -1.5 per cent in the previous month.

 

The Retail Prices Index (RPI) says it's increased to 2.6 per cent. 

 

Excluding housing costs, it's at 2.4 per cent - down from 2.7 per cent at the last count. 

 

Mr Bell explains what that means for residents: