Jersey's Retail Price Index, which measures the average changes in goods and services, hit 10.4% in September.
RPI has risen from 7.9% in June.
It's the greatest jump in the cost of living since September 1990.
The costs of energy and housing were the biggest factors in the hike.
The cost of borrowing increased sharply following the outgoing Prime Minister's mini budget which spooked the financial markets and spiked mortgage rates.
Food prices and the cost of motoring have had a huge effect on the rise.
In June, public transport fares saw a dip of 2%, but have since jumped nearly 9%.
The UK's inflation rate hit 10.1% in September.
Tickets on sale for inter-islands women’s football tournament
Loganair begins flights to East Midlands
Pubs can stay open until 2am to show some World Cup games
International observers return to Jersey for upcoming election
Jersey Parkrun celebrating 500th run!
Jersey swimming star heading up 21-strong Commonwealth Games squad
Student officers complete training on-island for the first time in a decade
Man jailed for two serious assaults
