Producer prices in Iceland rose 8.4 percent year-on-year in October 2018, from a 5.5 percent gain in the previous month. Cost increased at a faster pace for power intensive industry (10.7 percent compared to 8.5 percent in September); marine products (10.0 percent compared to 3.8 percent); other manufacturing industries (5.9 percent compared to 3.7 percent) and food (3.9 percent compared to 3.4 percent). On a monthly basis, producer prices went up 3.3 percent, following a 1.6 percent rise in the prior month. Producer Prices Change in Iceland averaged 5.30 percent from 2007 until 2018, 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 4.50 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 7.90 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.