Manx inflation down - You'll know you're starving when you keel over in the street

For most people prices and the cost of living are soaring so it comes as a surprise when you hear inflation is falling drastically. It just doesn’t add up. Well actually it does. In 2015 we warned that these indicators were being altered when CPI rather than RPI became the benchmark of choice:

https://www.facebook.com/805941286121301/photos/a.806379472744149.107374...

Nine months later IOM Newspapers did an item along the same lines - unfortunately the online link is no longer active.

Tinkering with RPI to CPI was not enough for the government however and in May a new formula was unveiled (see link):

https://www.manxradio.com/news/isle-of-man-news/new-method-of-calculatin...

Now we are told that inflation stands at 1.6%. Frankly the statistics beggar believe although they no doubt suit the Chamber of Commerce and the Government as a pay round falls due. They no doubt also suit Alf Cannan as the Treasury can massage benefits such as State pensioners to further squeeze the elderly.

One wonders where this will end are government going to continually change the goal post so the only time people will know they are starving is when they keel over in the street.

Despite the government's ‘good news’ one thing is clear utility charges are increasing and with an admission that over one in ten households are in fuel poverty a year ago this winter will be tough - whatever Alf Cannan and Chris Thomas say!

Bernard Moffatt