Annual inflation rate in Iceland decreased to 2.0 percent in December of 2019 from 2.7 percent in the previous month. It was the lowest inflation rate since May 2018, as prices advanced at a softer pace for housing & utilities (2.6 percent vs 3.2 percent); transport (0.5 percent vs 1.7 percent); food & non-alcoholic beverages (1.0 percent vs 2.5 percent); recreation & culture (2.8 percent vs 3.0 percent) and miscellaneous goods & services (3.8 percent vs 3.9 percent). Meantime, inflation was steady for restaurants & hotels (at 2.4 percent). On a monthly basis, consumer prices edged up 0.1 percent, the same as in the preceding month. Inflation Rate in Iceland averaged 4.97 percent from 1989 until 2019, 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.

Inflation Rate in Iceland is expected to be 2.60 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 2.60 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.

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Iceland Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.70 25.20 -0.06 1989 - 2019 percent Monthly
Jan 2008=100


Calendar GMT Actual Previous Consensus TEForecast
2019-09-27 09:00 AM Sep 3% 3.2% 3.3%
2019-10-28 09:00 AM Oct 2.8% 3% 3.1%
2019-11-27 09:00 AM Nov 2.7% 2.8% 2.6%
2019-12-19 09:00 AM Dec 2.0% 2.7% 2.6%
2020-01-30 09:00 AM Jan 2.0% 2.8%


News Stream
2019-11-27
Iceland Inflation Rate at Over 1-Year Low of 2.7%
Annual inflation rate in Iceland ticked down to 2.7% in November 2019 from 2.8% in the previous month. It was the softest inflation rate since September 2018, as prices slowed for transport (1.7% vs 2.5% in October); recreation & culture (3% vs 3.7%); hotels, cafes & restaurants (2.4% vs 2.8%); clothing & footwear (2.1% vs 2.7%) and health (1.8% vs 2.9%). Meanwhile, cost advanced further for food & non-alcoholic beverages (2.5% vs 2.4%) and miscellaneous goods & services (3.9% vs 3.6%). At the same time, inflation remained steady for housing & utilities (at 3.1%) and alcoholic beverages & tobacco (at 2.2%). On a monthly basis, consumer prices edged up 0.1%, after increasing 0.4% in the preceding month.

2019-10-28
Iceland Inflation Rate at 1-Year Low of 2.8%
Annual inflation rate in Iceland decreased to 2.8% in October 2019 from 3% in the previous month. It was the lowest inflation since October 2018, as cost slowed for transport (2.5% from 3.1% in September); food & non-alcoholic beverages (2.4% from 3.1%); miscellaneous goods & services (3.6% from 3.7%); restaurant & hotels (2.8% from 3%); furniture & household equipment (3.2% from 4.9%); clothing & footwear (2.7% from 3.2%) and alcoholic beverages & tobacco (2.2% from 2.5%). On the other hand, prices advanced faster for housing & utilities (3.1% from 2.9%); recreation & culture (3.7% from 3%) Meanwhile, inflation was steady for health (at 2.9%) and education (at 2.4%) while cost continued to fall for communication (-2.5% from -1.7%). On a monthly basis, consumer prices went up 0.4%, after a 0.1% gain in September.

2019-09-27
Iceland Inflation Rate at 6-Month Low
The annual inflation rate in Iceland slowed to 3.0 percent in September of 2019 from 3.2 percent in the previous month. It was the lowest inflation rate since March, as cost slowed for housing & utilities (2.9 percent vs 3.0 percent in August); transport (3.1 percent vs 3.2 percent); food & non-alcoholic beverages (3.1 percent vs 4.5 percent); clothing & footwear (3.1 percent vs 7.7 percent) and alcoholic beverages & tobacco (2.5 percent vs 2.6 percent). On the other hand, prices advanced faster for miscellaneous goods & services (3.6 percent vs 3.5 percent); restaurants & hotels (3.1 percent vs 2.7 percent); furniture & household equipment (4.9 percent vs 4.5 percent) and health (2.9 percent vs 1.6 percent) while inflation was steady for recreation & culture (at 3.0 percent). On a monthly basis, consumer prices increased 0.1 percent, following a 0.3 percent rise in August.

2019-08-29
Iceland Inflation Rate Edges Up to 3.2%
The annual inflation rate in Iceland rose to 3.2 percent in August of 2019 from 3.1 percent in the prior month. Prices increased faster for food & non-alcoholic beverages (3.2 percent vs 3.0 percent in July); recreation & culture (3.0 percent vs 2.7 percent); restaurants & hotels (2.7 percent vs 2.6 percent); furniture & household equipment (4.5 percent vs 0.7 percent); clothing & footwear (7.7 percent vs 2.3 percent) and alcoholic beverages & tobacco (2.6 percent vs 2.0 percent). In addition, prices dropped at a softer pace for education (-0.8 percent vs -1.1 percent) and communication (-2.0 percent vs -2.8 percent). On the other hand, cost slowed for housing & utilities (3.0 percent vs 3.4 percent); transport (3.2 percent vs 4.1 percent); miscellaneous goods & services (3.5 percent vs 4.2 percent). On a monthly basis, consumer prices increased 0.3 percent, rebounding from a 0.2 percent drop in the previous month.

2019-07-22
Iceland Inflation Rate at 4-Month Low
The annual inflation rate in Iceland slowed to 3.1 percent in July of 2019 from 3.3 percent in the previous month. It was the lowest inflation rate since March, as cost slowed for housing & utilities (3.4 percent vs 4.0 percent in June); transport (4.1 percent vs 5.0 percent); furniture & household equipment (0.7 percent vs 4.0 percent) and health (1.6 percent vs 1.7 percent). On the other hand, prices advanced faster for food & non-alcoholic beverages (5.5 percent vs 4.8 percent); recreation & culture (2.7 percent vs 2.1 percent); miscellaneous goods & services (4.2 percent vs 3.2 percent) and for restaurants & hotels (2.6 percent vs 0.9 percent). On a monthly basis, consumer prices fell 0.2 percent, compared to a 0.4 percent rise in June.

2019-06-26
Iceland Inflation Rate Slows to 3.3% in June
Consumer prices in Iceland increased 3.3 year-on-year in June 2019, slightly below the 3.6 percent rise in the previous month. Cost slowed for housing & utilities (4.0 percent vs 4.5 percent in May); transport (5.0 percent vs 6.0 percent); food & non-alcoholic beverages (4.7 percent vs 4.8 percent); restaurants & hotels (0.9 percent vs 2.8 percent) and for clothing & footwear (2.1 percent vs 2.8 percent). On the other hand, prices advanced faster for recreation & culture (2.1 percent vs 1.5 percent); miscellaneous goods & services (3.2 percent vs 2.5 percent); furniture & household equipment (4.0 percent vs 1.7 percent); health (1.7 percent vs 1.5 percent) and alcoholic beverages & tobacco (2.0 percent vs 1.7 percent). On a monthly basis, consumer prices went up 0.4 percent, following a 0.2 percent rise in May.


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.

Iceland Prices Last Previous Highest Lowest Unit
Inflation Rate 2.00 2.70 25.20 -0.06 percent [+]
Consumer Price Index CPI 473.30 472.80 473.30 4.00 points [+]
Harmonised Consumer Prices 101.60 100.90 104.50 42.80 points [+]
Core Consumer Prices 266.00 265.50 266.00 100.00 points [+]
Core Inflation Rate 2.10 2.70 18.16 1.09 percent [+]
GDP Deflator 187.39 182.52 187.39 3.24 points [+]
Producer Prices 209.00 211.40 224.80 99.80 points [+]
Export Prices 202.40 187.47 221.28 0.03 points [+]
Import Prices 221.68 197.40 262.20 0.04 points [+]
Producer Prices Change -3.30 1.10 68.50 -12.40 percent [+]
Inflation Rate Mom 0.10 0.10 10.40 -1.50 percent [+]
Food Inflation 2.50 2.40 31.18 -6.45 percent [+]
CPI Housing Utilities 461.80 463.10 463.10 94.00 points [+]
CPI Transportation 156.91 155.54 183.10 100.30 points [+]