Inflation as measured by the Consumer Price Index was firmly in negative territory in September and stood at -1.3% – a decrease of 1.4% compared to August 2020.
Transport was the biggest contributor to the decline causing a -1.5% decrease in the overall rate compared to same time last year. Half of the products within this category experienced a fall in prices compared to September 2019, with air travel decreasing by a huge 21.5%.
Clothing and footwear fell by just under 1 per cent, and housing, water, electricity, gas and other fuels dropped collectively by 0.3%. The decrease in this category was driven by the global decline in the price of oils and other fuels which fell by 34.6%.
The figures are published monthly by the Economic Affairs Division of the Isle of Man Cabinet Office.