The Consumer Price Index (CPI) based on prices in August 2017 is 444.0 points (May 1988=100), 0.25% higher than in the previous month. The CPI less housing cost is 384.5 points, 0.18% higher than in July 2017.
Cost of international airfares decreased by 12.6% (effect on the index -0.19%). Cost of owner occupied housing (imputed rent), rose by 0.5% (0.11%).
The CPI is 1.7% higher in August 2017 than in August 2016 while the CPI less housing cost is 3.0% lower than one year ago.
The CPI compiled in the middle of August 2017, 444.0 points, is applicable for indexation purposes in October 2017. The old credit terms index for October 2017 is 8,767 points.
| The Icelandic consumer price index 2016-2017 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2016 | ||||||
| August | 436.4 | 0.3 | 4.2 | 0.8 | 2.4 | 0.9 |
| September | 438.5 | 0.5 | 5.9 | 2.0 | 2.7 | 1.8 |
| October | 438.5 | 0.0 | 0.0 | 3.4 | 2.2 | 1.8 |
| November | 438.4 | 0.0 | -0.3 | 1.8 | 1.3 | 2.1 |
| December | 439.0 | 0.1 | 1.7 | 0.5 | 1.2 | 1.9 |
| 2017 | ||||||
| January | 436.5 | -0.6 | -6.6 | -1.8 | 0.7 | 1.9 |
| February | 439.6 | 0.7 | 8.9 | 1.1 | 1.5 | 1.9 |
| March | 439.9 | 0.1 | 0.8 | 0.8 | 0.6 | 1.6 |
| April | 442.1 | 0.5 | 6.2 | 5.2 | 1.6 | 1.9 |
| May | 443.0 | 0.2 | 2.5 | 3.1 | 2.1 | 1.7 |
| June | 443.0 | 0.0 | 0.0 | 2.8 | 1.8 | 1.5 |
| July | 442.9 | 0.0 | -0.3 | 0.7 | 3.0 | 1.8 |
| August | 444.0 | 0.2 | 3.0 | 0.9 | 2.0 | 1.7 |
| Percentage changes, not seasonally adjusted. | ||||||