Iceland Producer Inflation Hits 5-Month Low

Iceland’s producer prices rose by 12.5% year-on-year in September 2026, easing from 13.7% in August and marking the weakest growth in five months. Price growth slowed across marine products (13.3% vs. 16.8% in August), the metal industry (25.1% vs. 27.4%), food production (2.8% vs. 3.4%), exported products (17.4% vs. 19.2%), and exported products excluding marine products (19.9% vs. 20.4%). Meanwhile, price growth accelerated in other manufacturing industries (5.3% vs. 3.8%) and products sold domestically (2.0% vs. 1.9%). On a monthly basis, Iceland’s producer prices fell by 0.1% in September 2026, following a sharp 3.3% decline in August, marking a second consecutive monthly decrease.

Iceland’s producer prices rose by 13.7% year-on-year in August 2026, easing from 18.6% in the previous month and marking the weakest growth in four months. All major categories recorded slower price growth, including marine products (16.8% vs 22.5% in July), metal products (27.4% vs 38.9%), food products (3.4% vs 3.6%), other manufacturing industries (3.8% vs 6.1%), products sold domestically (1.9% vs 2.0%), exported products (19.2% vs 26.9%), and exported products excluding marine products (20.4% vs 29.8%). On a monthly basis, producer prices fell by 3.3% in August, following a 0.5% decline in the preceding month, marking a second consecutive drop and the sharpest decline since June 2022.

Iceland’s producer prices rose by 18.6% year-on-year in July 2026, slowing from a four-year high of 19.4% in the previous month. Price growth eased for metal products (38.9% vs 45.3% in June), food production (3.6% vs 3.9%), products sold domestically (2.0% vs 2.3%), exported products (26.9% vs 27.9%), and exported products excluding marine products (29.8% vs 32.0%). Meanwhile, costs increased at a faster pace for marine products, climbing to 22.5% from 21.9% in June, as well as for other manufacturing industries, jumping to 6.1% from 4.1%. On a monthly basis, producer prices fell 0.5% in July 2026, reversing a 1.6% gain in the previous month and marking the first decline since June 2025, as well as the lowest monthly reading since then.