JERSEY has been hit with the worst twelve-month increase in the inflation rate since 1990, new data has shown – as Islanders continue to battle with rising housing, energy and motoring costs.
Statistics Jersey’s latest Retail Prices Index report, which measures the change in the price of goods and services purchased by an average household, marked the annual rate of inflation at 10.4%.
The new figure is more than 2% higher than the inflation rate recorded in June, and the largest twelve-month jump since September 1990. It is also higher than the UK rate of 10.1%.
The increase was mainly driven by housing, particularly the rising costs of mortgage interest payments over the last three months.
