Iceland’s wage cost growth accelerated for the third straight month in July, figures from Statistics Iceland showed Friday.
The wage index climbed by 7.9 percent year-over-year in July, faster than the previous month’s 7.1 percent rise. In May, the growth rate was 5.3 percent.
On a monthly basis, wage cost increased at a slower pace of 1.1 percent in July, following the 2.3 percent growth in the preceding month. In May, the growth rate was 0.5 percent.
The real wage index was 1.0 percent higher than in the prior month. In the last twelve months, the real wage index increased by 5.9 percent.
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