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Inflation Is 5.1 Percent.
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Inflation was 5.1 percent in May, which is almost unchanged from April, when it was 5.2 percent. This is the first inflation measurement after the value-added tax on fuel was reduced on May 1. This was done to contain the increase in fuel prices due to the Gulf War and to combat inflation. Statistics Iceland's announcement states that if the tax collection had remained unchanged, fuel prices would have increased and caused increased inflation. A…
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