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.