Jersey's inflation rate hits 30-year high as cost of living crisis puts islanders under pressure

Jersey's inflation rate has increased to 10.4% - the highest level in the island since 1990.

The figure is even greater than both the UK inflation rate of 10.1% and the last RPI figure for Jersey, which stood at 7.9% when published in June this year.

RPI (The All Items Retail Prices) is the main measure of inflation in Jersey. It tracks changes in the price of goods and services purchased by an average household each quarter year.

The jump in inflation reflects the rising cost of living which continues to affect islanders, with energy and water bills both set to jump up in January.

Constable Richard Vibert, Jersey's Assistant Minister for Treasury and Resources, said: "The high inflation figure announced this morning will clearly be worrying for Islanders and we shouldn't underplay that."

"However, the high figure wasn't wholly unexpected, and we took the possibility of such a rise into account in designing the scale of measures within the recent mini-budget."

Constable Vibert added the inflationary pressures in the headline rate includes mortgage interest rates that have risen recently.

He said: "Thankfully, these rises won’t actually be felt by many Islanders at the moment who either rent their home or are still locked in to fixed-term deals."

Meanwhile, a Jersey teaching union is now calling for its members to get an above inflation pay rise of 15%.

A teaching union in Jersey is demanding better pay in line with inflation Credit: PA IMAGES

Marina Mauger of NASUWT believes teachers are at a breaking point and is warning of staff shortages unless their pay goes up.

She told ITV Channel TV: "Teachers say it's too expensive to live and it's impossible for young teachers to see a future here."

Guernsey's inflation figures will be published on Tuesday (25 October).

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know...