The Manx economy fell into deflation last month.
The annual rate of inflation, as measured by the Consumer Prices Index (CPI), for May stood at -1.0 per cent, down from 0.1 per cent the previous month.
Travel costs decreased in May as they related to bookings not in the TT period, resulting in the index moving back towards the March figure.
The rate of inflation last fell into negative territory in February this year.
Main contributors to the falling rates of inflation then was the Falling price of crude oil, reflected in the price of heating oil and motor fuels.
The annual rate of inflation as measured by the Retail Prices Index (RPI) also decreased in May to 2.1 per cent, down from 2.9 per cent in April.
Excluding housing costs, the annual rate of inflation shown by the RPI is 2.4 per cent for May 2015, a decrease from April’s figure of 3.0 per cent.