Words by

Jóhannes Bjarkason

The annual inflation rate has decreased, according to new data from Statistics Iceland. Inflation is now 7.6%, as opposed to 8.9% in June. 

A major factor in calculating this result is lower prices on shoes and clothing due to summer clearances. 

Inflation reached a high point last February when it surpassed 10% and has not been this low since May 2022, when it was 7.6%.