Inflation rate of 2.9% ‘bearable’
Thursday 21st April 2011, 2:29PM BST.
INFLATION is on target, and the States’ chief economist said latest figures show a ‘reasonably’ healthy economy.
The Policy Council released its quarterly inflation bulletin yesterday, which showed that Guernsey’s cost of living calculation had increase by 0.2% during the first three months of 2011.
RPIX, which measures the cost of some 2,000 inflation-measuring items in a ‘shopping basket’ excluding mortgage interest payments, stood at 2.9% for the year ending March 2011.
The States has a 3% RPIX target and chief economist Andy Sloan (pictured) said current rates were ‘bearable’.
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