Jersey inflation rises to 3% as fuel costs surge

Jersey’s annual inflation rate increased to 3% in September, up from 2.8% in June, according to the latest figures from Statistics Jersey.

The island’s Retail Price Index (RPI) rose by 0.2 percentage points over the three-month period, with household services, alcoholic drinks and food among the main contributors to the increase.

Statistics Jersey reported significant rises in fuel prices over the past year. Heating oil and other fuels increased by 47.7%, while petrol and oil prices rose by 22.7%.

Food prices climbed by 3.5% year-on-year, while housing costs increased by 0.2%.

Despite the rise, Jersey’s headline inflation rate remained below the UK’s Consumer Prices Index including owner-occupiers’ housing costs (CPIH), which stood at 3.6% during the same quarter.

Housing costs continued to make the largest overall contribution to Jersey’s RPI. The category includes public and private rents, mortgage interest payments, parish rates, and maintenance and repair expenses.

Statistics Jersey also noted that global energy markets continued to be affected by conflict in the Middle East, contributing to ongoing uncertainty around fuel prices.