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Iceland Producer Price Inflation Slows In April

(RTTNews) – Iceland’s producer price inflation slowed for the second month in April, the Statistics Iceland said Friday.

Producer price inflation eased to 22.8% in April from 28.4% in March. Inflation accelerated since December 2009 and slowed in March. Prices recorded an increase for the fifth month in a row.

Factory prices for marine products rose 9.5% annually. Prices for the power-intensive industry products jumped 58.1% yearly, while that for food products rose 3.2%. Prices for goods sold in the domestic markets increased 4.8% year-on-year, while prices for goods meant for export markets increased 30.6%.

On a monthly basis, producer prices rose 2.5%, almost reversing the 2.7% decline in March. For marine products, producer prices was down 0.5% monthly, while prices for power intensive industry products increased 7%.

Factory prices for food products increased 0.5% month-on-month and for other manufactured products, the prices increased 0.5%. Prices of domestically sold products was 0.4% higher than in the previous month, while the index for exported products increased 3.2%.

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