Cost of living continues to increase

Tue, 18 Jan 2022

The cost of living on Island has seen another increase.

Inflation as measured by Consumer price index stands at 6.0% for December 2021, up from 4.6% in November 2021.

The category 'Transport' remains the largest contributor to the rate of inflation, providing a 2.7% increase in the overall 12-month rate, followed by 'Housing, water, electricity, gas and other fuels', which caused a 1.1% increase. All items within the 'Transport' category experienced an increase in prices. 'Air travel' experienced the biggest increase in prices (52.2%), followed by 'petrol and oil' (23.8%).

Within 'Housing, water, electricity, gas and other fuels', 'oils and other fuels' experienced the biggest increase in prices (62.5%) compared to same month last year.