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Iceland Inflation Highest Since May 2010

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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.

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