Iceland Inflation Eases To 4-Year Low

(RTTNews) - Consumer price inflation in Iceland eased for the second straight month in February to the lowest level in four years, preliminary data from Statistics Iceland showed on Thursday.

The consumer price index rose 4.2 percent year-on-year in February, slower than the 4.6 percent rise in January. The CPI excluding housing costs was 2.7 percent higher than a year ago.

Further, this was the lowest inflation rate since February 2021, when prices had risen 4.1 percent.

The annual price growth in housing and utilities moderated to 8.6 percent from 9.5 percent. A 2.5 percent fall in clothing and footwear prices also curbed the rise in inflation. Meanwhile, prices for food and non-alcoholic beverages grew at a faster pace of 4.6 percent versus 4.2 percent in January.

On a monthly basis, consumer prices climbed 0.9 percent, reversing a 0.3 percent fall in the previous month.