Friday, the Statistics Iceland announced that the wage index rose 5.5% year-over-year in March, smaller than the 6.7% growth in the previous month. A year ago, the wage index was up 7.8%.

On a monthly basis, the wage index grew 0.1% in March, after a nil growth in the preceding month.

For the three months to March, the wage index increased 2.9% compared to the same period of the previous year.

Meanwhile, the real wage index rose 8.4% on an annual basis in March, while it was up 0.7% compared to the previous month.

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