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Iceland's Inflation Rises In October

Iceland's consumer price inflation accelerated for the second straight month in October, Statistics Iceland reported Monday.

Consumer price inflation rose to 2.8 percent from 2.7 percent in September. A similar higher rate was last seen in March.

On a monthly basis, consumer price inflation increased to 0.6 percent from 0.2 percent in the previous month.

Prices of new cars rose 2.6 percent and cost of owner occupied housing gained 0.6 percent. At the same time, prices of food and non-alcoholic beverages climbed 0.9 percent.

The CPI less housing cost was 1.7 percent higher than a year ago and 0.59 percent higher than in September.

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