Iceland Inflation Rises To 16-month High

(RTTNews) - Consumer price inflation in Iceland accelerated in January to the highest level in nearly one-and-a-half years, preliminary data from Statistics Iceland showed on Thursday.

The consumer price index rose 5.2 percent year-on-year in January, faster than the 4.5 percent rise in December. The CPI excluding housing costs was 4.5 percent higher than a year ago.

Further, this was the highest inflation rate since September 2024, when prices had risen 5.4 percent.

Housing and utility costs alone grew 7.2 percent annually in January, and those of food and non-alcoholic beverages rose 5.8 percent. Transport charges were 4.6 percent higher, while clothing and footwear prices rose only 0.8 percent.

On a monthly basis, consumer prices moved up 0.4 percent versus a 1.2 percent increase in December.