Guernsey rate of inflation slows to 4.6%

The cost of tobacco increased by 14.5% in the year to December 2024, figures showed.

The rate of inflation in Guernsey has slowed over the past year, according to the latest external figures.

In the 12 months to December 2024, the Retail Price Index (RPI), which shows the cost of living in Guernsey was 4.6%

The RPI was previously 6.3% in the 12 months to December 2023, official figures showed.

Guernsey's inflation statistics are published quarterly by the government's data and analysis team, based on the price changes of a "shopping bag" of items.

The cost of tobacco saw the biggest annual increase, rising by 14.5%, the report said.

Housing increased by 9.2% over the same period, it added.

The cost of tobacco also saw the largest quarterly rise, increasing by 6.3% in the quarter ending December 2024, the figures showed.

The inflation rate peaked in December 2022, at 8.5%, the highest level since 1991.