Isle of Man inflation rises in February

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The rate of inflation on the Isle of Man increased during the month of February, according to official treasury figures.

Figures for the month showed a rise to 2.8% from the January rate of 2.5%.

During the past year on the island, food prices have risen by 4.6%, tobacco and cigarettes by 11.8% while fuel and light prices have fallen by 1.3%.

Other price increases over the past 12 months include rented accommodation (7.6%) and air travel (15.1%).

The rate of inflation on the island over the past 12 months varies from 3.9% (February 2012) to 2.1% (August 2012).

At the end of January there was a 0.3% increase in the rate of unemployment on the Isle of Man with 1176 people out of work, compared to 1020 in December 2012.

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