Wednesday - 24 September 2008
Consumer price index in September 2008
The CPI based on prices in September 2008 is 315.5 points (May 1988=100), 0.86% higher than in the previous month. The CPI less housing cost is 284.3 points, 1.25% higher than in August.
Prices of clothing and footwear rose by 11.2% (effect on the index 0.47%), mainly owing to completion of summer sales. Prices of services rose by 1.1% (0.30%). Thereof the effect on CPI in public services was 0.08% and in other services 0.22%.
Cost of owner occupied housing declined 0.7% (-0.11%), thereof the effect of lower market prices was -0.14% and of higher real interest rate 0.03%. Prices of of new cars fell by 1.8% (-0.14%).
The CPI in September 2008 is 14.0% higher than in September 2007 while the CPI less housing cost is 14.7% higher than one year ago. Over the last three months, the CPI has increased 2.7%, equivalent to an annual inflation rate of 11.4% (12.7% for the CPI less housing cost).
The CPI compiled at the middle of September, 315.5 points, is applicable for indexation purposes in November 2008. The old credit terms index for November 2008 is 6,230 points.
|The Icelandic consumer price index 2007-2008|
|May 1988 = 100||Annualized rates|
|Monthly index||Monthly changes||Latest month||Latest 3 months||Latest 6 months||Latest 12 months|
|Percentage changes, not seasonally adjusted.|
|Consumer price index by economic categories 2008|
|Subindices March 1997=100||Change in the last 12 months|
|Effect on the index|
|Consumer Price Index||175.2||176.8||14.0||14.0|
|Domestic goods less agricultural products and vegetables||153.1||154.5||15.4||1.1|
|Imported goods less, alcohol and tobacco||138.4||140.9||20.3||6.3|
|Core index 1 (CPI less agric. prod., vegetables,|
|fruits and petrol)||175.1||177.0||12.7||11.4|
|Core index 2 (core index 1 less public services)||177.1||179.0||13.3||11.0|
|Core index 3 (core index 2 less effects of interest rate)||174.6||176.4||11.7||9.7|
|Groceries (perishable items)||150.4||151.6||20.7||3.0|