Iceland Inflation Rises In May

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Iceland’s consumer price inflation rose to a six-month high in May, figures from Statistics Iceland showed on Thursday.

The consumer price index rose 2.7 percent year-on-year in May, following a 2.2 percent increase in April. A similar higher rate was last seen in November.

Excluding housing cost, inflation was 2.7 percent in May.

On a monthly basis, consumer prices rose 0.6 percent in May, following a 0.5 percent increase in the previous month.

Owner occupied housing cost fell 0.6 percent monthly in May, while food prices increased 1.6 percent.

Prices of furniture and furnishing increased 2.9 percent, and new cars prices rose by 3.7 percent.

Separate data from the statistical office showed that the jobless rate increased to a seasonally adjusted 5.3 percent in April from 3.3 percent in March. In February, the unemployment rate was 5.0 percent.

The number of unemployed persons increased to 11,300 in April from 5,900 in the previous month.

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