Guernsey's overall inflation rate drops slightly to 5.3% but housing and power costs spiral

The cost of living is continuing to increase across Guernsey at a much higher rate than the UK. Credit: ITV Channel

There is some good news for Guernsey consumers and businesses as the rate costs are going up by has slowed slightly.

The latest level of inflation is 5.3%, compared to 5.8% in March and 7.3% in June 2023.

Food prices increased well below this figure, rising by 2.3% in the past year.

However, the cost of power and housing is far outstripping inflation, jumping by 12.1% and 10.5% respectively over the same period.

Prices actually went down within the clothing and footwear sector by 2.1% since June 2023.

The overall rate of inflation is currently 3.3% higher in Guernsey than the UK which is at the Bank of England target level of 2%.

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