The rate at which prices in Jersey are rising has slowed again this quarter, with the inflation rate decreasing two percentage points.

Jersey's RPI has fallen to 3% from 5% in June 2024.

Entertainment, sport and leisure fees and holidays were the largest drivers of the latest RPI rate figures, contributing 0.8pp (percentage point).

However, so-called leisure services still came in 0.3pp lower than in June's figures.

Leisure services increased by 7.9% in the 12 months to September 2024, with household services coming close behind with an increase of 4.6%.

The cost of fuel and light increased by 10%, contributing 0.4pp to the annual change.

Prices of tobacco and nicotine products climbed the most at 13.5% since Q3 2023.

A few groups contributed to the sower rate of price increases, most notably the 'housing' group.

It increased by 0.8% in the year to Q3 2024, contributing -1.5pp to rate changes.

Jersey's inflation is now much lower than Guernsey, which sits at 5 %.

The UK's Consumer Price Index fell to 1.7% in September, below the Bank of England's 2% target.  

That could signal a cut in the base of interest, bringing down the cost of borrowing, when the Bank's committee meets next week.