Rate of inflation in Guernsey slows to 7%

The cost of food increased by 9.6% in the year to September 2023, figures showed

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

In the 12 months to September 2023, the Retail Prices Index (RPI), which reflects the cost of living in Guernsey, was 7%.

The RPI was previously 7.9% in the 12 months to September 2022, official figures showed.

The cost of housing saw the biggest annual increase, rising by 11.4%, the report said.

Food increased by 9.6% over the same period, it added.

The cost of fuel saw the biggest quarterly rise, rising by 8.7% in the quarter ending September 2023, the figures showed.

According to the statistics, the price of clothing and footwear and travel fares had fallen slightly.

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