The latest increase in the cost of living should be known this morning.
The rate of inflation for the 12 months to the end of September is scheduled to be published by the States at 09:30.
The most-recent figures – published at the end of July – showed prices in Guernsey rising at 7% annually. That was the highest rate of inflation locally for more than 30 years.
Since then, the headline rate of inflation in Jersey has reached double figures – 10.4% - after a 2.5% quarterly increase.
Pictured: Price rises in Guernsey were already known to be at a 30-year high with the States forecasting further increases in inflation before the end of the year.
Jersey’s latest increase in the cost of living was driven by price hikes in fuel and light, housing, motoring and food.
The cost of fuel and light increased by 25.1% over the 12 months to September. Housing costs increased by 15.9%. The cost of motoring, which includes petrol and diesel, rose by 12.9%. Food rose by 10.7%.
Excluding mortgage payments, Jersey’s latest rate of inflation was 8%.
In August, the States in Guernsey made a central forecast for inflation of around 8% for the third quarter of this year – the figure due to be released today. But the upper range of the forecast is around 10%.
"Current central forecasts show RPIX [which excludes mortgage costs] increasing further in the next two quarters before beginning to fall in early to mid-2023," said the States at the time.
"The current expectation is that RPIX will return to more typical levels towards the end of 2023 or early in 2024."
For a decade, inflation in Guernsey was contained to less than 3% until it started to climb significantly around the turn of the year.
Pictured: Deputy Mark Helyar, the Policy & Resources Committee's treasury lead, will next week present the Committee's third budget since it was elected in October 2020.
At the end of June 2022, prices in Guernsey were 7% higher than 12 months earlier.
Price rises for the 12-month period to the end of September 2022 will be published on Tuesday.
This list below shows other recent or forthcoming increases in some of the things which matter to you:
Personal tax allowance – Proposed to go up by 7% in January;
Excise duty on motor fuel – Proposed to go up by 6% in January;
Excise duty on tobacco – Proposed to go up by 11% in January;
States’ revenue spending – Proposed to go up by 9.2% from January;
Adult minimum wage hourly rate – Went up by 5.5% in October;
Young person’s minimum wage hourly rate – Went up by 4.1% in October;
States’ pension – Going up by 7% in January;
Family allowance - Proposed to go up by 7% in January;
Income support requirement rates - Proposed to go up by 7% in January.
Survey finds half struggle to meet living costs
Annual inflation highest since 2008
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