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Iceland HICP Falls Further In May

Iceland’s EU measure of inflation declined for the sixth successive month in May, figures from Statistics Iceland showed Monday.

The harmonized index of consumer prices, or HICP, fell 2.5 percent year-over-year in May, much faster than the 0.8 percent drop in April.

Transport costs decreased 7.3 percent annually in May and prices of food and beverages slid by 2.8 percent.

Month-on-month, consumer prices dropped 0.3 percent from April, when it rose by 0.9 percent.

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