Inflation is creeping up on the Island.
It now stands at 3-4% after going up point 3 percent between mid December and mid January with mortgage repayments the key factor.

Inflation has fallen from a high of 6% two years ago to a low of 2.5% late last year. It is very responsive, in the Island, to changes in energy pricing.
However fuel and decreased during the last month by 1.1%, this largely attributed to a reduction in oil prices. Housing recorded the largest change with a rise of 7/4% with increasing mortgage repayments the main reason.
The Bank of England Monetary Policy Committee has repeatedly increased interest rates over the last few months.