FX.co ★ Iceland Producer Inflation Highest in 11 Months

Producer prices in Iceland experienced a year-on-year increase of 9.5% in February 2025, up from 9.1% in January. This marks the eleventh consecutive month of rising producer prices, with February's rate being the highest in this stretch. The surge was driven by accelerated costs in marine products, which rose to 10.1% from 7.8% in January, domestically sold products which climbed to 3.4% from 2.6%, and exported products which increased to 12.2% from 11.8%. Meanwhile, price growth remained steady for metal industrial products at 18.9%, food production at 4.5%, and other manufacturing industries at 0.9%. Conversely, inflation in exported products, excluding marine products, decelerated to 13.3% from 14.2%. On a month-to-month basis, producer prices increased by 0.8% in February, slowing from a 1.5% rise in the previous month.