The cost of gas is biggest contributor to the rise
Inflation in the Island now stands at 8 per cent - up from 7.4 per cent in December.
According to the latest government statistics gas is the biggest contributor rising by 60.9 per cent.
Overall, the cost of water, power, heating and other fuels is up by an average 22.9 per cent.
Food and non-alcoholic beverages has risen 13.2 per cent - which is the second biggest rise in the Consumer Price Index.
The price of butter is up 34.7 per cent compared to 12 months ago.
You can find the full report HERE.
Businesses passing on the VAT reduction to families
Poet says Gaiety's Katie Hopkins booking is 'not appropriate'
Royal Manx organisers reach amicable agreement over TT film road closures
Minister gives full backing to new hygiene ratings scheme for eateries