Financial News: Iceland Inflation Lowest In 6 Months

05/26/2023 - 11:36:00 (RTTNews)

(RTTNews) - Iceland's consumer price inflation eased to its lowest level in six months in May, figures from Statistics Iceland showed on Friday.

The consumer price index rose 9.5 percent year-on-year in May, after a 9.9 percent increase in April.

The latest rate was the weakest since November last year, when inflation was 9.3 percent.

Headline inflation peaked at 10.2 percent in February.

Excluding housing cost, inflation slowed to 8.4 percent from 8.7 percent in April.

On a monthly basis, consumer prices rose 0.39 percent in May, after a 1.31 percent increase in the previous month.

Prices for owner occupied housing grew by 1.3 percent in May, while prices of international flights decreased by 7.0 percent.

Meanwhile, the prices of food and non-alcoholic beverages increased by 0.8 percent.

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