Housing costs, electricity and fuel push the Retail Prices Index higher.
RPI inflation in Guernsey is now running ahead of the UK and Jersey at 4.6%.
Britain's rate is 3.9% and Jersey's is 3%, although their latest quarterly figure will come out this week.
The 'basket' of goods that make up RPI in Guernsey shows that Housing and Fuel costs were key drivers.
Housing was pushed up by mortgage interest payments and increases in rents, fees charged by tradespeople and some DIY items.
Fuel was influenced by the price of electricity, kerosene, which fuels oil fired central heating, and smokeless coal.
Globally, fuel prices are riding high as there is no end in sight to the Iranian blockade of the Strait of Hormuz.
Tobacco was also a contributor as it is subject to a new States excise rate.
Some indices decreased, including the leisure 'basket' because of a drop in the price of sports and outdoor goods.
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