Island ‘is winning war on inflation’

Wednesday 26th April 2006, 12:00AM BST.

JERSEY is winning the war on inflation, says Chief Minister Frank Walker.

The latest retail prices index figure for the 12 months to the end of March was issued this morning and showed that prices had increased by an average of 2.4% during the period.

It is the fourth successive quarter that the figure has either been below or the same as the States target of 2.5% for inflation.

And the Chief Minister was expected to tell the Jersey Chamber of Commerce at a lunch at the Pomme d’Or Hotel today: ‘We are starting to tame the beast, and the underlying rate of RPI(X) is staying at, or below, our target.

We can now say that we are establishing a trend and we are starting to win the war on inflation.’

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