Cost of food in Iceland increased 5.50 percent in July of 2019 over the same month in the previous year. Food Inflation in Iceland averaged 3.66 percent from 1993 until 2019, reaching an all time high of 31.18 percent in December of 2008 and a record low of -6.45 percent in November of 1994.
Food Inflation in Iceland is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in Iceland to stand at 4.20 in 12 months time. In the long-term, the Iceland Food Inflation is projected to trend around 3.80 percent in 2020, according to our econometric models.