Iceland Inflation Climbs To 2-year High

(RTTNews) - Consumer price inflation in Iceland increased further in August to the highest level in two years, preliminary data from Statistics Iceland showed on Thursday.

The consumer price index rose 5.6 percent year-on-year in August, following a 5.3 percent increase in July. The CPI excluding housing costs was 5.2 percent higher than a year ago.

Moreover, this was the highest inflation rate since August 2024, when prices increased 6.0 percent.

Inflation based on food and non-alcoholic beverages rose to 4.1 percent from 3.9 percent, and that on housing and utilities climbed to 6.8 percent from 6.5 percent. Clothing and footwear prices rebounded 0.7 percent, and costs for information and communication were 5.3 percent more expensive. Meanwhile, transport inflation slowed marginally to 9.9 percent.

On a monthly basis, consumer prices moved up 0.2 percent versus a 0.4 percent rise in July.