Iceland’s central bank: Inflation edged up again in October to 9.4%.

Iceland’s central bank: Inflation edged up again in October to 9.4%. Inflation is expected to average 9.4% in the final quarter of this year, but it will gradually decline, reaching around 4.5% in the final quarter of 2023. There are also signs that reaching the inflation target may take longer.

The economy is expected to grow 5.6% this year, and the outlook for next year will improve, with the economy now expected to grow 2.8% instead of the 1.9% projected in August.