Iceland's Consumer Price Inflation Increases In September

Sep 12, 2007 - Consumer prices in Iceland grew 4.2% on an annual basis in September, the statistics office said, Wednesday. This was more than the 3.4% rise in consumer prices in the previous month. Stripped of housing costs, the Consumer Price Index, CPI, gained 1.1%. The constant tax-rate index climbed 6%.

In the quarter to September, consumer prices expanded 6.5%, accelerating from the 3.1% growth in the three months to August.

On a monthly basis, the CPI rose 1.3% in September after remaining unchanged in the last month. Excluding housing costs, the CPI rose 1.14%. Prices of clothing and footwear jumped 13.6% as summer sales ended, while costs of owner occupied houses increased 2.5%.

The price increase in September was the highest since June, when the CPI rose 4.7% on an annual basis. The core inflation, that is the CPI less prices of agricultural products, vegetables, fruits and petrol, climbed 5.2%.