INFLATION in the island has fallen for the third month in a row.
The Retail Price Index (RPI), which soared to a 20-year high in August, is now at is lowest level in more than a year.
It fell from 5.2 per cent in October to 5.0 per cent in November.
RPI inflation excluding housing costs also decreased, from 5.9 per cent in October to 5.3 per cent in November. And the annual rate of inflation shown by the Consumer Prices Index (CPI) fell to 5.2 per cent in November, down from 5.7 per cent the previous month.
In August, inflation hit 6.8 per cent – the highest level in 20 years.
While the rate has now dropped, consumers are still being hit hard by spiralling costs. The biggest price increases have been for food (up 7.4 per over the past year) and particularly staple foodstuffs such as milk products and potatoes.
And there has been no respite in the soaring costs of fuel up 10.8 per cent over the year and with oil up a massive 21.7 per cent and gas up 17.7 per cent.