Iceland’s consumer price inflation accelerated in March, while producer prices increased at a slower pace in February, figures from Statistics Iceland showed Friday.

The consumer price index climbed 1.6 percent year-over-year in March, after rising 0.8 percent in the previous month, the same rate of increase as each in December and January.

On a monthly basis, consumer prices increased at faster pace of 1.0 percent in March, faster than February’s 0.7 percent climb. In January, prices had fallen 0.7 percent.

Excluding housing costs, consumer prices were 0.1 percent lower than from the previous year and 1.02 percent higher than from the previous month.

In a separate report, the statistical office released the producer prices figures for the month of February.

The producer price index rose 12.1 percent annually in February, but slower than January’s 14.2 percent sharp increase.

Domestic market producer prices increased 1.2 percent in February from the previous year and prices in the foreign market jumped by 16.0 percent.

Month-on-month, producer price slid 2.0 percent in February, in contrast to a 0.2 percent rise in the preceding month. It was the first decline in eleven month. Domestic market prices edged up 0.2 percent, while export market prices went down by 2.8 percent.

The material has been provided by InstaForex Company –