Iceland's annual inflation slowed to the lowest level in five months in May, after remaining stable in the previous month, data released by Statistics Iceland showed.

The consumer price index increased 5.4 percent on an annual basis in May, notably slower than the 6.4 percent growth seen in April, which was unchanged from the preceding month. The latest growth was the smallest since December 2011, when prices moved up 5.3 percent.

Prices of domestic goods and vegetables advanced 6.7 percent annually, while prices of imported goods rose 4.2 percent. There was a 6.2 percent annual growth in food prices during the month.

On a monthly basis, consumer prices edged down 0.03 percent in May, reversing April's 0.8 percent increase, data showed.

RTTNews