FX.co ★ Iceland Inflation Highest Since May 2010

Iceland's consumer price inflation increased to the highest rate since May 2010, figures from Statistics Iceland showed on Tuesday.

The consumer price index grew 6.7 percent year-on-year in March, following a 6.2 percent rise in February. This was the highest since May 2010, when inflation was 7.5 percent.

Excluding housing cost, inflation was 4.6 percent in March.

On a monthly basis, consumer prices rose 0.94 percent in March, after a 1.16 percent increase in the prior month.

Prices of clothing and footwear gained 5.3 percent and those of owner occupied housing grew 2.0 percent. Prices for fuel rose 8.2 percent.