Iceland Producer Price Inflation Eases To 14-Month Low

(RTTNews) - Iceland's industrial producer price inflation moderated in May to the lowest level in just over a year, figures from Statistics Iceland showed on Wednesday.

The industrial producer price index rose 0.3 percent yearly in May, much slower than the 5.4 percent rise in April. Further, this was the weakest increase in the current sequence of growth that began in February 2024.

Prices in the metal industry alone declined by 9.8 percent annually in May, while those for food products rose by 7.6 percent. The price index for exported products fell 2.0 percent, while those for domestic industries grew by 5.4 percent.

On a monthly basis, producer prices decreased 2.3 percent, following a 0.8 percent decrease in April.

Separate official data showed that the unemployment rate dropped to a 6-month low of 3.1 percent in May from 3.3 percent in April. In the corresponding month last year, the rate was 2.5 percent.