Chief Minister Allan Bell says a stable, low rate of inflation will be good news for people feeling the pinch of wage freezes.
This week, the government’s figures showed the Retail Prices Index dropped from 2.6 per cent to just 2.4 in September, while the Consumer Prices Index held steady at 1.6 per cent.
Mr Bell says a stable figure means the government can make long-term financial plans without the worry prices are going to rise sharply.
And he says it’s good news for the public, too:
Clip 1
Pothole claims cost department thousands
Hundreds of successful compensation claims in recent years confirms minister
Increase in scarlet fever on the Island
Public Health issues advice to parents should signs appear
Government 'neglecting' heritage assets across the Island
Chair of Castletown Commissioners 'appalled' at sale of Old Police Station
Motiv8: 'We will never reach all the children on the Isle of Man'
Charity highlights 'hidden harm' of substance misuse as it marks 10 years of Family Service
House of Keys question paper dominated by one MHK
Moorhouse tables all of the questions