The last time it went below two percent was in 2021
The Isle of Man's consumer inflation rate fell by a whole percentage point last month, returning it to its lowest level since April 2021.
The rate at which prices are rising stands at two percent, down from three percent in June.
Restaurants and hotels exhibit the largest increase in a 12-month period by 7.1 percent.
Education follows having risen 6.5 percent, and alcohol and tobacco is the third largest contributor at 5.5 percent.
Rent, tea, preschool fees and driving lessons are among the largest movers over the past year.
Meanwhile, gas, multivitamin tablets, electrical appliances and air travel see the biggest decreases.
Over a one month period, transport sees the highest increase at 2.7 percent, while restaurants and hotels experienced deflation of 1.2 percent over the same period.
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