GST Blamed For Inflation Rise

admin · 16-07-2008, 01:27 PM

The rate of inflation in Jersey's risen above five per cent.

And it is at its highest for more than eight years.

Figures released today show the inflation rate in the island now stands at five point six per cent.

The introduction of GST in May, combined with high fuel and energy costs, are the main factors behind the rise.

In Guernsey, meanwhile, the inflation rate published today is five and a half per cent.

There's concern over what's behind the high figure there, where the States have no plans to introduce GST.

sorvaD Le Sueur · 16-07-2008, 02:47 PM

I am sure the 'true' figure is higher

,
and those companies that absorbed GST have artificialy lowered the rate as well.

Haggis · 16-07-2008, 03:21 PM

tighten yer belts folks.

Paul · 16-07-2008, 04:36 PM

Inflation will probably be over 5% all year untill it around Feburary then it will drop for a month to about 3%. Companys will pay their employee's the 3% then it will shoot back to 5% again.