NEWS RELEASE PRICES 12 JULY 2004

The CPI compiled in July 2004 is 234.6 points (May 1988=100), 0.47% lower than in the previous month. The CPI less housing cost is 227.7 points, 0.44% lower than in June.

The index for owner occupied housing went down by 0.6% (effect on the CPI -0.08%). Housing prices rose by 0.7% but changes in the system of the State Housing Financing Fund caused a decrease in the interest rate from 5.1% to 4.8% which led to a fall in the user cost by 1.35% (-0.17%).

Summer sales have widely started leading to a 7.8% fall in prices of clothing and footvear (-0.45%). Prices of petrol and diesel oil fell by 2.3% (-0.1%). 

The CPI in July 2004 is 3.6% higher than in July 2003 and the CPI less housing cost is 2.7 per cent higher. The CPI rose by 1.1% over the last three months equivalent to an annual inflation of 4.6% (CPI less housing cost 3.2%). 

The credit term index in August 2004 is 234.6 points. The old credit term index is 4.632 points in August 2004.

Statistics

Further Information

For further information please contact 528 1100 , email upplysingar@hagstofa.is

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