Iceland Inflation Accelerates In June

Iceland's consumer price inflation increased at a faster rate in June, figures from Statistics Iceland showed on Wednesday.

The consumer price index grew 8.8 percent year-on-year in June, following a 7.6 percent rise in May.

Excluding housing cost, inflation was 6.5 percent in June.

On a monthly basis, consumer prices rose 1.41 percent in June, following a 0.77 percent increase in the prior month.

Prices of food and drinks rose 0.8 percent and those of owner occupied housing grew 2.9 percent. Prices of petrol and diesel oil gained 10.4 percent.

Separate data from the statistical office showed that the producer prices declined 0.7 percent in May.

Prices for marine products rose 1.3 percent and those of food products increased 0.9 percent in May.

Meanwhile, prices for power-intensive industries declined 4.8 percent.

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