Price index change would be 'premature'
Manx Utilities says it won't change the way it sets price rises until government adopts a single, standard method of measuring inflation.
That's according to MU Chairman Dr Alex Allinson, after the authority used the Retail Price Index (RPI) to set a 6.4% hike in the Island's water rate.
In the House of Keys today, Dr Allinson said it would be 'premature' to stop using RPI, which is established in Manx Utilities' long-term business plan.
That's despite criticism it is much higher than the Consumer Price Index (CPI), the benchmark for the government's monthly inflation rate, currently 1.9%.
North Douglas MHK David Ashford says the RPI is not a fair or accurate measure:
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