Inflation rate falls to 3%

The latest retail prices index figures show inflation at its lowest level since December 2010, falling from the March figure of 4.7% to 3%..

Although increases in car insurance, rent and alcoholic drinks prices drove the rise in the RPI, the overall figure came down because the GST increase from 3% to 5 % just over 12 months ago dropped out of the reckoning and because of a drop in food-price inflation.

Treasury Minister Philip Ozouf said that the rate of inflation would remain a priority.

• Full report in Friday’s JEP