Isle Of Man / Ellan Vannin

Island inflation expected to rise over next few months

Inflation in the Isle of Man is expected to rise, according to the Treasury Minister.

Anne Craine said the future was uncertain despite a recent decrease from 6.7% in April to 6.3% in May.

The Isle of Man Treasury said it was possible the rate would increase over the next few months.

Mrs Craine said: "Much will depend on what happens to oil and other commodity prices as the global economy continues to recover."

She added: "It is difficult to predict whether the decline in inflation anticipated towards the end of 2011 and into 2012 will be realised".

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