The annual inflation rate in Iceland rose to 3.5 percent in September of 2020 from 3.2 percent in the prior month, reaching the highest in over a year. Main upward pressure came from prices of food & non-alcoholic beverages (6.5 percent vs 6.1 percent); furnishings (8.9 percent vs 7 percent); miscellaneous goods & services (4.6 percent vs 4.3 percent); alcoholic beverages & tobacco (4.4 percent vs 4 percent) and health (4.1 percent vs 3.5 percent). In addition, cost rebounded for transport (1.7 percent vs -0.1 percent). On a monthly basis, consumer prices went up 0.4 percent, following a 0.5 percent rise in the prior month.
Inflation Rate in Iceland averaged 4.91 percent from 1989 until 2020, reaching an all time high of 25.20 percent in December of 1989 and a record low of -0.06 percent in November of 1994. This page provides - Iceland Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Inflation Rate in Iceland is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Iceland to stand at 2.50 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.80 percent in 2021 and 2.30 percent in 2022, according to our econometric models.