Guernsey's inflation rate slows to 5.8%

The rate of inflation has slowed from 6.3%, as measured in December

The rate of inflation in Guernsey has slowed to 5.8% over the past twelve months until the end of March, according to the latest figures.

In December inflation in Guernsey was measured at a rate of 6.3% for the previous year.

Prices in the UK rose by 3.2% in the year to March 2024.

Inflation is the rate at which the price of goods and services rise.

The rate of 5.8% covers all good and services, including mortgage and interest payments.

Excluding these, the rate of inflation is 4.9%.

Inflation is Guernsey is measured by the States of Guernsey at every quarter of the year, with each figure measuring how much prices have risen over the previous twelve months.

The States also measures how inflation impacts different types of households.

For those who own their own home and have a mortgage, they have seen their costs increase the most, by 7%, compared to private renters seeing costs going up by only 4.7%.

The cost of "staple" goods and services has increased by 5.6%.

Follow BBC Guernsey on X (formerly Twitter) and Facebook. Send your story ideas to [e-mail].