Minister warns inflation could peak at 10 per cent later in 2022
Oil and gas prices are expected to remain 'abnormally high' for at least the rest of 2022.
That's according to Treasury Minister, David Ashford, who's been giving a statement on the Island's financial situation in Tynwald today (26 April).
He also admits that for low-income households, what can be done to deal with rising costs is limited:
Government suffers fresh defeat over North and West Area Plan
Last-minute Treasury amendment sparks criticism before combined vote delivers set back for Cannan administration
Steam Packet confirms overnight sailings cancelledÂ
Gale warning in operation in North Irish Sea tonight
Plans to be submitted for Ramsey Harbour flood defence scheme
Department of Infrastructure's proposals to go on display
"Substantial progress" made on design of new Castle Rushen High School, says minister
But MHK criticises pace of progress on Castletown site
"Demand for green, clean energy is rising amongst all businesses", says MUA
More than a quarter of imported electricity now classified as 'zero-carbon'