RTTNews - Tuesday, the Statistics Iceland said in a report that the consumer price index or CPI rose 11.6% year-on-year in May, slower than a 11.9% rise in the preceding month. Excluding housing costs, the CPI increased 15.5% in May.

Month-on-month, consumer prices were up 1.1% in May compared to a 0.4% increase in April. Economists expected prices to rise 0.5%. Excluding housing costs, consumer prices increased 1.4%.

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