Inflation leaps to 2.9% in March

INFLATION has risen.

inflationweb

By the States preferred measurement of RPIX, which excludes mortgage payments, it was 2.9% in March, 1.3% higher than December and 2.4% higher than this time last year.

The UK stands at 3.4% and Jersey at 3.1%.

RPI in Guernsey was 2.4% in March.

The differential between the annual change in RPIX and RPI this quarter is mainly attributable to falling house prices impacting mortgage interest payments together with lower interest rates.

The largest percentage increase, 6.8%, came from the fares and other travel costs group, making a contribution of 0.3 percentage points to the quarterly changes in the RPI and the RPIX.

This was followed by the alcohol group which, with an increase of 4.4%, contributed 0.2 percentage points to the overall quarterly change.

The largest quarterly contribution of 0.4% was from leisure services, which was largely attributable to seasonal increase in hotel costs, and housing, which for RPIX includes rents and parish rates.

Comments for: "Inflation leaps to 2.9% in March "

Devil's Advocate

"The largest quarterly contribution of 0.4% was from leisure services, which was largely attributable to seasonal increase in hotel costs"

If inflation figures compare prices to those of a year ago there should be no seasonal variation of anything.

Roger Irrelevant

Milk.

donald

Wait till "Brexit" starts to bite,and the Unions start there games!

Cher Eugene

"Their" games not "there" games makes sense

Rokayne

0.5% inflation is created by the hike in SS tax

Beanjar

The States could cut inflation at the stroke of a pen if they prevented retailers from profiteering. Why are they allowed to steal the VAT by charging full UK prices, and more? Oh yes, retailers have to pay all those terrible 'shipping charges' -£5 extra on a £20 top for instance. Like hell! All the time we are a captive market and retailers charge as much as they like, prices will rise.

Cher Eugene

The problem with the action you suggest is that we would very soon have no retailers in the Island and nothing on which visiting ship passengers can spend their spare cash.

From personal experience many UK retailers do not treat sales to Guernsey as Zero rated for VAT purposes and as for post & packing, don't get me started.

Rottweiller

In my old mate Trev's opinion, freight should account for around 5%, so a £20 item would be £1.00 if done as a bulk order.

It is in the hands of the public to boycott the UK chains who overcharge.

Beanjar

Let's not just demonise the UK chains. Local chisellers are often the problem. We went shopping yesterday and amongst other things we needed milk - £1.25 in Alliance, £1.18 in Waitrose. Don't let Creasey's-owned M&S off the hook - they charge extra on the UK price for delivery on food which people may think is fair enough. But what about ripping us off by a whole extra £5 for bringing a £25 bra or tie here? And heaven help us when we need anything which has only one retailer on the island such as a particular car or central heating boiler. It's daylight robbery and the States just sits back and lets them.