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Financial News: Iceland Consumer Price Inflation Rises; Producer Prices Dr

Iceland Consumer Price Inflation Rises; Producer Prices Drop

07/24/2020 - 08:01:00 (RTTNews)

(RTTNews) - Iceland's consumer price inflation rose in July and producer prices dropped, figures from Statistics Iceland showed on Friday.

The consumer price index rose 3.0 percent year-on-year in July, following a 2.6 percent increase in June and May.

Excluding housing cost, inflation was 3.3 percent in July.

On a monthly basis, consumer prices rose 0.1 percent in July, after a 0.4 percent increase in the previous month.

Prices for clothing and footwear decreased 3.6 percent monthly in July due to the effect of summer sales.

Producer prices dropped 1.2 percent yearly in June, reversing a 1.3 percent rise in May. Prices fell for the first time in six months.

On a month-on-month basis, producer prices fell 2.0 percent in June, following a 3.5 percent decline in the preceding month.

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