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.

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Iceland Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.20 25.20 -0.06 1989 - 2020 percent Monthly
Jan 2008=100


Calendar GMT Actual Previous Consensus TEForecast
2020-06-26 09:00 AM Jun 2.6% 2.6% 2.5%
2020-07-24 09:00 AM Jul 3% 2.7% 2.5%
2020-08-28 09:00 AM Aug 3.2% 3% 2.9%
2020-09-29 09:00 AM Sep 3.5% 3.2% 2.9%
2020-10-29 09:00 AM Oct 3.5%
2020-11-27 09:00 AM Nov
2020-12-22 09:00 AM Dec 2.2%


News Stream
Iceland Inflation Rate at Near 1-1/2-Year High of 3.5%
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.
2020-09-29
Iceland August Inflation Rate at 1-Year High of 3.2%
Annual inflation rate in Iceland rose to 3.2 percent in August of 2020 from 3 percent in the prior month, reaching the highest in a year. Prices advanced faster primarily for food & non-alcoholic beverages (6.2 percent vs 5.3 percent in July); health (3.6 percent vs 2.9 percent); housing & utilities (2.6 percent vs 2.2 percent) and education (2.4 percent vs 1.3 percent). On a monthly basis, consumer prices inched up 0.5 percent, after increasing 0.1 percent in the prior month.
2020-08-28
Iceland Inflation Rate at 10-Month High
Annual inflation rate in Iceland increased to 3 percent in July of 2020 from an upwardly revised 2.7 percent in June, reaching the highest in 10 months. Prices jumped for clothing and footwear (9.5 percent vs 0.8 percent in June); furnishing and household equipment (9.4 percent vs 6.1 percent). In contrast, inflation eased for food (5.3 percent vs 5.6 percent); housing and utilities (2.2 percent vs 2.3 percent); and hotels, cafes and restaurants (1.7 percent vs 3.5 percent); and prices declined more for transport (-2 percent vs -1.7 percent). On a monthly basis, consumer prices edged up 0.1 percent, following a 0.4 percent rise in June.
2020-07-24
Iceland Inflation Rate Steady at 6-Month High of 2.6%
The annual inflation rate in Iceland stood at 2.6 percent in June of 2020, unchanged from May's six-month high. Higher prices of food & non-alcoholic beverages (5.5 percent vs 4.9 percent in May); hotels, cafes & restaurants (3.5 percent vs 1.4 percent) and health (3.1 percent vs 2.4 percent) were partly offset by decreases in those of communications (-5.6 percent vs -5.5 percent) and transport (-1.6 percent vs -1.3 percent). In addition, inflation eased mostly for housing & utilities (2.3 percent vs 2.4 percent); furnishings (6.1 percent vs 6.8 percent); recreation & culture (4.2 percent vs 4.4 percent); education (1.3 percent vs 1.9 percent) and clothing & footwear (0.8 percent vs 1.2 percent). On a monthly basis, consumer prices went up 0.4 percent, slowing from a 0.7 percent increase in the prior month.
2020-06-26

Iceland Inflation Rate
In Iceland, the most important category in the consumer price index is Housing and Utilities (29.3 percent of total weight). Transport accounts for 14.9 percent; Food and Non-Alcoholic Beverages for 14.7 percent; Recreation and Culture for 10.3 percent; Miscellaneous Goods and Services for 6.2 percent and Restaurants and Hotels for 5.4 percent. Furniture, Household Goods and Maintenance; Health; Clothing and Footwear; Alcoholic beverages and Tobacco; Communication and Education account for the remaining 19.2 percent of total weight.