Figures released by Statistics Iceland show that despite remaining stable in April, the Nordic country’s inflation rate has slowed to its lowest level since the beginning of the year.
While year-on-year growth on the consumer price index was at 6.4 percent in April, May’s increase of 5.4 percent is markedly slower. The April figure also matched that of March, while May’s growth was the smallest since December last year saw an increase of just 5.3 percent.
The data also showed that April’s 0.8 percent increase on consumer prices came down slightly to 0.03 percent in May. Food prices for May are up 6.2 percent on the previous year, with imported goods up in price by 4.2 percent, and domestic goods seeing a 6.7 percent rise.