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Jersey Chamber of Commerce

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Category: States of Jersey

Rise in RPI

Oct 24, 2022

A statement from Assistant Minister for Treasury and Resources, Connétable Richard Vibert, in response to the rise in RPI announced this morning.

Assistant Minister for Treasury and Resources, Connétable Richard Vibert, said:

“The high inflation figure announced this morning will clearly be worrying for Islanders and we shouldn’t underplay that. However, the high figure wasn’t wholly unexpected, and we took the possibility of such a rise into account in designing the scale of measures within the recent mini-budget. 

“It is also important to recognise the inflationary pressures in the headline rate includes mortgage interest rates that have risen recently. Thankfully, these rises won’t actually be felt by many Islanders at the moment who either rent their home or are still locked in to fixed-term deals.

“The government will continue to monitor the situation closely and is actively considering further help where necessary so we can offer support in a targeted and timely manner. However, we should also be aware of the damage that can be done by the wrong interventions at the wrong time and ensure our actions are affordable and promote stability.”

Government of Jersey 

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