Weekly bulletin 24 June 2024
The housing price index was up by 1.4% in May and the rental price index by 3.2%, according to figures published last week. While the Bank of England maintained an unchanged policy rate, the Swiss National Bank lowered its rate by 0.25 percentage points. Of most interest domestically this week is without doubt the CPI, to be published by Statistics Iceland on Thursday.
24 June 2024
The week ahead
- Today, Statistics Iceland releases the wage index for May.
- On Thursday, Statistics Iceland publishes the June CPI. We expect the CPI to increase by 0.47% between months and inflation to decrease from 6.2% to 5.8%.
- Ölgerðin publishes financial statements for the period 1 March - 31 May 2024.
- On Friday, the Central Bank of Iceland (CBI) publishes its quarterly Hagvísar. Hagar publishes financial statements for the period 1 March - 31 May 2024.
Image of the week
In 2023, the food basket cost around 36% more in Iceland than on average in the European Union. This is in keeping with a 34% higher GDP per capita in 2023 in Iceland than in the EU. Statistics Iceland published data on the subject last week. Switzerland has the most expensive food basket while Turkey’s is the cheapest.
Highlights of the previous week
- The housing price index fell by 1.4% between months in May. This brought the 12-month increase up from 6.4% to 8.4%. This is the fourth increase in a row, with the index rising by 0.8% in March and April and 1.9% in February. The month-over-month price increase was highest for single-family dwellings in the capital area.
- The rental price index was up by 3.2% between months in May. The index shows changes to rental prices base on new agreements concluded in April and May. Statistics Iceland has adopted a new method of measuring imputed housing rent that is based on the same data but also all other relevant rental agreements that are valid for each month, not just new agreements.
- HMS published its monthly report.
- The Committee on Labour Market Statistics published its spring report.
- Inflation in the UK decreased from 2.3% to 2.0%, the Bank of England maintained unchanged policy rates while the Swiss National Bank lowered its rates by 0.25 percentage points.
- Municipality Credit Iceland and Íslandsbanki auctioned bonds.
Statistics and market data
Disclaimer
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