Iceland’s consumer price inflation quickened to a nine-month high in July, while producer price growth eased to a seven-month low in June, figures from Statistics Iceland showed Thursday.
The consumer price index rose 1.9 percent year-on-year in July, faster than a 1.6 percent increase in the previous month. This was the highest since August 2014, when prices had risen 2.2 percent and matched October’s figure.
Excluding housing cost, consumer price inflation quickened to 0.4 percent from 0.2 percent in the preceding month.
On a monthly basis, consumer price inflation eased to 0.16 percent from 0.3 percent. Excluding housing costs, consumer prices remained stable in July after rising 0.4 percent in June.
The agency also reported that the producer price index climbed 11.0 percent year-on-year in June, but slower than the 12.5 percent jump seen in May. This was the lowest since November 2014, when prices grew 6.1 percent.
Producer price growth in the domestic market eased to 2.3 percent from 5.4 percent and that in the export market slowed to 14.1 percent from 15.0 percent.
On a monthly basis, producer prices decreased 0.4 percent in June, after remaining stable in May. Domestic market prices slid 0.4 percent and foreign market prices declined by 0.3 percent.
The material has been provided by InstaForex Company – www.instaforex.com