Iceland Releases Jun CPI
Iceland is releasing its June CPI data, with the country's central bank having raised interest rates twice in the current tightening cycle
**Consensus expectations: - M/M: No est v 0.1% prior - Y/Y: No est v 5.1% prior **Note: Iceland CPI target is 2.5% Recent comments: - On May 20th Iceland Central Bank (Sedibanki) raised the 7-Day Term Deposit Rate by 25bps to 7.75% for its 2nd straight rate hike under the current tightening cycle.
Statement noted that i nflation outlook had deteriorated; aided by a surge in oil and commodity prices.
Inflation expectations had risen; particularly in the short term.
Outlook saw lower GDP growth and higher unemployment. **Insight: Iceland Central Bank has now raised the 7-Day Term Deposit Rate twice under the current tightening cycle by a total of 50bps.
The last hike was in May 2026 (last meeting)