Inflation rose to 4.6% on the island last month - up from 4.4% in October.
It's still below September's 5.0% figure, which was a five-year-high.
Transport remains the largest single contributor to inflation, showing a 1.8% increase in the overall 12 month rate.
It's followed by housing, water, electricity, has and other fuels which caused a 1% increase.
In the UK, inflation has surged to a ten-year high of 4.2%.