Miss World und die Wirtschaftszahlen ihrer Heimat!

verfasst von Emerald, 12.12.2005, 11:39

-->By Trygve Meyer
Dec. 12 (Bloomberg) -- Icelandic consumer prices in
December unexpectedly rose, adding pressure on the bank to
raise interest rates for a 12th time since May 2004.
Consumer prices on the Atlantic island rose 0.4 percent
from the previous month and added 4.1 percent from a year ago,
Statistics Iceland said on its Web site today. The Icelandic
annual rate of inflation was 4.2 percent in October.
Iceland has the Nordic region's fastest-growing economy,
Europe's lowest jobless rate and an inflation rate that peaked
at 4.8 percent in September, almost twice the central bank's
target rate. Policy makers have almost doubled the benchmark
interest rate to 10.5 percent since May 2004.
``It would be premature to expect inflationary pressures
to abate for good,'' said Beat Siegenthaler, a senior
strategist at TD Securities in London in a note to clients
before the statement was published. ``The economy remains
overheated.''
The Icelandic central bank, or Sedlabanki, expects annual
inflation to slow to 3.3 percent in 2006 from 4 percent this
year. In 2007, inflation may accelerate to 3.6 percent,
according to the bank's monetary bulletin on Dec. 2. This
compares with a rate of 3.2 percent last year.
``The first signs that the tight monetary stance is
beginning to produce results have emerged,'' Sedlabanki said on
Dec. 2, after raising its rate to 10.5 percent. ``Nonetheless,
the inflation outlook two years ahead is still above target.''
The Reykjavik-based central bank said the outlook for
price increases was ``still unacceptable'' and claiming
``victory in the battle against inflation is premature.''
With consumer price increases about 1 percentage point
higher than the bank's target for the next three years, it has
signaled rates need to be raised further in the coming months.
Consumer prices in the nation of 290,000 people have
overshot the bank's target for 20 months, boosted by wage
increases that spurred consumer spending and economic growth.

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• Miss World und die Wirtschaftszahlen ihrer Heimat! - Emerald, 12.12.2005, 11:39