Jersey's retail price index (RPI), a key measure of inflation, rose by 2.7% over the 12 months to March 2026, according to new figures from Statistics Jersey. This marks a slight decrease from the previous quarter's 2.8% rate, dropping by 0.1 percentage points.
Significant price hikes in energy have driven the increase. Heating oil and other fuels surged by 31.9% over the year, largely due to the ongoing conflict in the Middle East, though the full impact has yet to be reflected in the data.
Alcohol prices jumped 8.6%, up from a 5.1% rise in the previous quarter. Food costs also contributed, with beef seeing the largest annual increase at 19.7%, while coffee and cocoa rose by 15.9%.
However, some sectors helped offset the rise. Housing, motoring, fares and travel, and leisure services all posted downward contributions to the annual inflation rate.
On a quarterly basis, the RPI increased by 1.4% between December 2025 and March 2026.
Statistics Jersey noted that alcoholic drinks and household services were among the main contributors to the overall increase.