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Financial News: Iceland Consumer Price Inflation Accelerates In January

Iceland Consumer Price Inflation Accelerates In January

01/26/2021 - 07:26:00 (RTTNews)

(RTTNews) - Iceland's consumer price inflation accelerated for the second straight month in January, Statistics Iceland reported Tuesday.

Consumer price inflation rose to 4.3 percent from 3.6 percent in December. The consumer price index less housing cost was 4.7 percent higher than a year ago.

On a monthly basis, consumer prices dropped 0.06 percent, in contrast to a 0.20 percent rise in December.

Winter sales are ongoing and prices of clothing and footwear decreased by 6.5 percent and prices of furniture and furnishings decreased 3.3 percent. Meanwhile, cost of housing, water and electricity rose 0.6 percent and that of food and non-alcoholic beverages by 0.6 percent.

In December, producer price inflation slowed to 6.3 percent from 9.1 percent in November, the statistical office said in a separate report. On a monthly basis, producer prices dropped 1.8 percent in contrast to a 0.2 percent rise in November.

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