Ashford concerned it will hit 10 per cent
Inflation in the Isle of Man could reach up to 10 per cent later this year.
Treasury Minister David Ashford made the prediction in Tynwald while delivering a statement on the rising cost of living.
He also announced an additional £150 support payment which will be made to those in receipt of a range of benefits, including long-term sickness and pensions, around June.
A further statement on support for the winter months will be made in October.
Council of Musical Chairs: What do we know?
Almost three dozen ministerial changes have taken place in the Cannan administration
Tim Crookall MHK back in CoMin
He's the new DOI Minister
Michelle Haywood MHK steps down as DOI minister
Alfred Cannan has thanked her for her contribution over the last 15 months
Chris Thomas appointed Treasury Minister
Alex Allinson stepped down following a cabinet reshuffle this morning
Alex Allinson steps down
Alfred Cannan has thanked Dr Allinson for his input