Island inflation rate rises to 3%, figures show

Island inflation rate climbs to 3%, figures reveal

Alcohol and food were the main drivers behind the rise in inflation, statisticians said.

Jersey’s annual inflation rate increased to 3% in September, according to fresh figures.

The island’s retail price index (RPI) went up by 0.2 percentage points from June, when it stood at 2.8%.

Statistics Jersey said rises in the cost of household services, alcoholic drinks and food made the biggest contributions to the annual inflation rate.

It also said there were "substantial increases" in the price of some fuels, with heating oil and other fuels rising by 47.7% over the year, while petrol and oil increased by 22.7%. Food prices rose by 3.5% and housing costs by 0.2%, it said.

Statistics Jersey said the island’s headline inflation rate this quarter was 0.6 percentage points below the UK’s CPIH, a measure of inflation that includes housing costs, which was 3.6%.

It said housing costs made the largest contribution to the RPI - this group includes public and private rentals, as well as mortgage interest payments, parish rates and maintenance and repair costs.

Statisticians said global energy markets continued to be affected by conflict in the Middle East.