Iceland Economy, Iceland inflation, Icelandic krona, Statistics Iceland
The rate of inflation has slowed in Iceland as the central bank increases the country’s interest rates.
Statistics Iceland reported on its website at the weekend that the rate of inflation in the North Atlantic nation dropped to 4.6 per cent in July, while consumer prices decreased by 0.7 per cent during the same time frame.
The news follows a move by the central bank in Reykjavik last month that saw the benchmark rate lifted 0.25 per cent to 5.75 per cent as officials continue to guide the country’s economic recovery and look to stabilise the Icelandic krona. The central bank says it is looking to reduce inflation to 2.5 per cent.http://www.icenews.is