Giants of retail tear prices down as they rush into Iceland

Reykjavik

A COMMON complaint heard on the streets of Reykjavik - apart from the weather - is about prices. A standard burger will set you back as much as US$20, while branded sneakers cost double what they are priced in the United States.

That's about to change.

Nearly eight years after McDonald's pulled out of Iceland due to spiralling costs, international retail giants are now flocking to the north Atlantic island, attracted by a booming economy and a surge in purcha…