Treasury Minister Alex Allinson says he thinks good times are ahead as inflation continues to fall.
In a video on Facebook released by the government alongside the latest inflation figures, he said electricity prices had been coming down.
Mr Allinson says inflation remains high in the hospitality industry, particularly hotels and restaurants.
But he says he's hopeful inflationary pressures on people's budgets are easing:
TT Legacy Lap to set off this morning
There'll be a parade lap taking place around the TT course this morning.
Mountain Road section closed by crash this morning
Part of the Mountain Road is currently shut because of a crash.
New TT schedule sees racing expected to start tomorrow
Tomorrow's TT schedule includes the Superbike race at 1.30pm, in what will now be the first day of racing.
First day of racing called off
TT organisers have announced the first day of racing has been called off.
Further delay to first day of racing
The clerk of the TT course has announced another one hour delay to today’s Superstock race.
Company behind major redevelopment plans applies to dissolve
The company which first mooted plans for a huge city centre redevelopment in Douglas has applied for dissolution.
Roads starting to close as clouds delay racing
TT organisers say today's superstock race has been pushed back by an hour to 12pm, because of low cloud.
Local authority to investigate asbestos claims
Commissioners in Garff have asked the clerk to look into allegation asbestos is leaking into waterways in Laxey.
