Iceland Inflation Eases To 3.8%

(RTTNews) - Consumer price inflation in Iceland moderated in May after accelerating in the previous month, preliminary data from Statistics Iceland showed on Wednesday.

The consumer price index rose 3.8 percent year-on-year in May, slower than the 4.2 percent rise in April. The CPI excluding housing costs was 2.7 percent higher than a year ago.

Inflation based on transportation eased to 0.9 percent from 2.6 percent. The annual price growth in miscellaneous goods and services eased to 4.1 percent from 5.3 percent. Meanwhile, prices for food and non-alcoholic beverages grew at a faster pace of 5.9 percent.

On a monthly basis, consumer prices edged up 0.2 percent in May, following a 0.9 percent gain in April.

Separate official data showed that the unemployment rate in Iceland dropped to a 5-month low of 3.3 percent in April from 3.7 percent in March. The seasonally adjusted employment rate was 78.6 percent and the activity rate 81.3 percent.