Producer prices in Iceland rose 6.6 percent year-on-year in August of 2019, from a 5.9 percent gain in the previous month, as power intensive industry cost dropped at a much softer pace (-1.7 percent vs -6.8 percent in July). On the other hand, prices slowed for marine products (19.6 percent vs 21.2 percent); food production (4.0 percent vs 4.6 percent) and for other manufacturing industries (8.5 percent vs 12.0 percent). On a monthly basis, producer prices dropped 0.3 percent, following a 1.0 percent decrease in the previous month. Producer Prices Change in Iceland averaged 5.48 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 8.10 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 5.00 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.