Collective Bargaining Assumptions Smile: Inflation Is 5.6%

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Inflation is now 5.6 percent after having been measured at 5.3 percent in July. The consumer price index rose by 0.2 percent between months, according to new figures from Statistics Iceland. This is in contrast to the trend in August last year, when the index fell by 0.15 percent due to the impact of sales. The assumptions of collective agreements have now formally been broken. The collective agreements concluded in 2024 contain a provision on...

Dagens industri

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An Icelandic trade union committee has initiated a review of the inflation situation, after consumer price increases in Iceland took a major step beyond the ceiling set as a condition for the current collective agreement.

RÚV

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Inflation in the month of August measured 5.6%, increasing by 0.20% month-on-month. This is stated in an announcement from Statistics Iceland.The price of clothes rose by 4.1%, house rents rose by 0.9%, while air fares to foreign countries decreased by 9.6%. College fees increased by 15.1%. The increase is mainly due to the increase in the registration fee in public universities from ISK 75,000 to ISK 100,000. The provisions of collective agreem…

Vísir

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Inflation is measured at 5.6 percent in August, the highest level in two years. The so-called Stability Pacts' preconditions target inflation of 4.7 percent in August, which opens the possibility of terminating the agreements on September 1.