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Financial News: Iceland PPI Inflation Highest Since May 2015

Iceland PPI Inflation Highest Since May 2015

07/24/2018 - 07:10:00 (RTTNews)

(RTTNews) - Iceland's producer inflation accelerated to the highest level in just over three years in June, figures from Statistics Iceland showed Tuesday.

The producer price index advanced 11.7 percent year-over-year in June, faster than the 8.5 percent spike in May.

Moreover, this was the strongest PPI Inflation since May 2015, when prices had grown 12.5 percent.

Domestic market producer prices rose 2.6 percent annually in June and prices in the foreign market surged by 17.0 percent.

Month-on-month, producer prices climbed 2.3 percent from May, when it increased by 3.6 percent.

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