Iceland's producer prices surged by 16.8% year-on-year in May 2026, marking the highest level since July 2022, up from 12% in the previous month. Metal products increased the most, surging 38.1% compared to 16.9% in April. Exported products excluding marine products saw a strong increase to 25.8% from 13.6%, while exported product inflation also accelerated, rising 23.2% from 15.8%. In contrast, price increases for products sold domestically eased to 3.6% from 3.9%. Meanwhile, producer inflation eased for other components, including marine products (19.6% vs 19.9%) and food production (5.5% vs 6.1%). On a monthly basis, producer prices rose 2% in May, following a 2.3% rise in the previous month.