Iceland’s producer prices rose 16.8% year-on-year in May 2026, the fastest pace since July 2022 and up from 12% in April. Metal products recorded the sharpest increase, jumping 38.1% compared with 16.9% in the previous month. Prices of exported products excluding marine goods also picked up strongly, climbing 25.8% versus 13.6% in April, while overall exported product inflation accelerated to 23.2% from 15.8%.
By contrast, price growth for goods sold on the domestic market eased slightly, slowing to 3.6% from 3.9%. Producer inflation also moderated in several key categories, including marine products (19.6% vs 19.9%) and food production (5.5% vs 6.1%). On a monthly basis, producer prices increased 2% in May, following a 2.3% gain in April.
