Inflation rate more than halves in Jersey but the cost of tobacco and leisure services spike

Inflation has more than halved in Jersey over a year.

The figure now stands at 5%, compared to 10.9% in June 2023 and the 30-year record-high of 12.7% in January 2023.

The most recent rate is also slightly below Guernsey where prices are rising by 5.3%.

However, despite the overall rate that prices are rising by slowing down in Jersey, some sectors continue to see big increases.

The cost of tobacco went up by 12.2% in the last year while leisure services will set you back an extra 10.7%.

The price of power and housing also saw notable above-inflation rises at 8.8% and 7.3% respectively.

That housing figure is still driven by the high cost of mortgage interest payments, although this has slowed in the last quarter.

The overall rate of inflation is currently 3% higher in Jersey than the UK which is at the Bank of England target level of 2%.

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