Producer prices in Iceland rose 7.8 percent year-on-year in May of 2019, easing from a 10.2 percent gain in the previous month. It was the lowest producer inflation since February, as power intensive industry cost fell (-1.0 percent vs 10 percent in April). On the other hand, prices advanced faster for marine products (18.5 percent vs 16.2 percent); food production (5.2 percent vs 4.1 percent) and other manufacturing industries (12.7 percent vs 9.1 percent). On a monthly basis, producer prices went up 1.3 percent, following a 0.5 percent increase in April. Producer Prices Change in Iceland averaged 5.46 percent from 2007 until 2019, reaching an all time high of 68.50 percent in November of 2008 and a record low of -12.40 percent in January of 2014.
Producer Prices Change in Iceland is expected to be 5.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Iceland to stand at 5.50 in 12 months time. In the long-term, the Iceland Producer Prices Change is projected to trend around 4.00 percent in 2020, according to our econometric models.