The annual inflation rate in Iceland eased to 4.4 percent in May of 2021 from 4.6 percent in the prior month, driven by softer price increases in food & non-alcoholic beverages (4.1 percent vs 5.8 percent in April), transports (4.8 percent vs 5.5 percent), hotels, cafés & restaurants (3.0 percent vs 3.2 percent) and clothing & footwear (4.4 percent vs 4.5 percent). Meanwhile, inflation quickened for housing & utilities (5.3 percent vs 4.1 percent) and for miscellaneous goods & services (5.1 percent vs 4.4 percent). On a monthly basis, consumer prices went up 0.42 percent, easing from a 0.71 percent increase in the prior month. source: Statistics Iceland

Inflation Rate in Iceland averaged 4.89 percent from 1989 until 2021, 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 June of 2021.

Inflation Rate in Iceland is expected to be 5.00 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 3.30 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.30 percent in 2022 and 2.70 percent in 2023, according to our econometric models.

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Iceland Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.40 4.60 25.20 -0.06 1989 - 2021 percent Monthly
Jan 2008=100


Calendar GMT Actual Previous Consensus TEForecast
2021-02-25 09:00 AM Feb 4.1% 4.3% 4%
2021-03-25 09:00 AM Mar 4.3% 4.1% 3.7%
2021-04-29 09:00 AM Apr 4.6% 4.3%
2021-05-27 09:00 AM May 4.4% 4.6% 4.4%
2021-06-29 09:00 AM Jun 4.4%
2021-07-23 09:00 AM Jul
2021-08-30 09:00 AM Aug
2021-09-28 09:00 AM Sep
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Iceland Annual Inflation Rate Eases in May
The annual inflation rate in Iceland eased to 4.4 percent in May of 2021 from 4.6 percent in the prior month, driven by softer price increases in food & non-alcoholic beverages (4.1 percent vs 5.8 percent in April), transports (4.8 percent vs 5.5 percent), hotels, cafés & restaurants (3.0 percent vs 3.2 percent) and clothing & footwear (4.4 percent vs 4.5 percent). Meanwhile, inflation quickened for housing & utilities (5.3 percent vs 4.1 percent) and for miscellaneous goods & services (5.1 percent vs 4.4 percent). On a monthly basis, consumer prices went up 0.42 percent, easing from a 0.71 percent increase in the prior month.
2021-05-27
Iceland March Inflation Rate at Near 8-Year High
The annual inflation rate in Iceland increased to 4.3 percent in March of 2021 from 4.1 percent in the prior month, staying close to levels not seen since 2013. Main upward pressure came from prices for transport (5.9 percent vs 3.5 percent in February) and housing & utilities (2.9 percent vs 2.8 percent). Meanwhile prices eased for furnishing & household equipment (9.2 percent vs 9.4 percent); clothing & footwear (3.8 percent vs 6 percent); food & non-alcoholic beverages (6 percent vs 6.5 percent) and recreation & culture (3.2 percent vs 3.6 percent). On a monthly basis, consumer prices went up 0.49 percent, after increasing 0.69 percent in the prior month.
2021-03-25
Iceland Consumer Prices Rise 4.1% in February
The annual inflation rate in Iceland slowed to 4.1 percent in February of 2021, from 4.3 percent in the prior month, as prices eased for furnishing & household equipment (9.4 percent vs 10.2 percent in January); clothing & footwear (6.0 percent vs 8.1 percent); food & non-alcoholic beverages (6.5 percent vs 6.6 percent); housing & utilities (2.8 percent vs 3.1 percent); and recreation & culture (3.6 percent vs 4.7 percent). On the other hand, prices increased further for transport (3.5 percent vs 3.1 percent). On a monthly basis, consumer prices were up 0.69 percent, after edging down 0.06 percent in the prior month.
2021-02-25
Iceland January Inflation Rate at Near 7-1/2-Year High
The annual inflation rate in Iceland rose to 4.3 percent in January of 2021 from 3.6 percent in the prior month. It was the highest inflation rate since August of 2013, pushed up by prices of furnishings (10.2 percent vs 8.2 percent in December); clothing & footwear (8.1 percent vs 3 percent); food & non-alcoholic beverages (6.6 percent vs 6.9 percent); recreation & culture (4.7 percent vs 4.3 percent); health (4.7 percent vs 4.8 percent); housing & utilities (3.1 percent vs 2.4 percent) and transport (3.1 percent vs 2.2 percent). On a monthly basis, consumer prices went down 0.1 percent, after increasing 0.2 percent in the previous month.
2021-01-26

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.