The Consumer Price Index (CPI) based on prices in June 2016 is 436.3 points (May 1988=100), 0.18% higher than in May 2016. The CPI less housing cost is 398.2 points, 0.10% higher than in May.
Cost of owner occupied housing (imputed rent) rose by 0.7% (effect on index 0.10%). International airfares rose by 9.3% (0.10%) and the cost of operating personal transport equipment rose by 1.7% (0.13%). Prices of telephone and internet service declined by 4.0% (-0.10%).
The CPI is 1.6% higher in June 2016 than in June 2015 while the CPI less housing cost is unchanged from one year ago.
The CPI compiled in the middle of June 2016, 436.3 points, is applicable for indexation purposes in August 2016. The old credit terms index for August 2016 is 8,615 points.
| Consumer price index by economic categories 2016 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| May | June | % | ||
| Consumer Price Index | 244.0 | 244.4 | 1.6 | 1.6 |
| Thereof: | ||||
| Domestic goods and vegetables | 224.7 | 223.9 | 3.0 | 0.4 |
| Agricultural products | 211.0 | 209.8 | 2.5 | 0.2 |
| Domestic goods less agricultural products | 234.6 | 234.2 | 3.5 | 0.3 |
| Imported goods | 190.3 | 190.8 | -2.7 | -0.9 |
| Imported goods less, alcohol and tobacco | 180.4 | 181.0 | -3.1 | -1.0 |
| Groceries (perishable items) | 216.7 | 215.8 | 1.2 | 0.2 |
| The Icelandic consumer price index 2015-2016 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2015 | ||||||
| June | 429.3 | 0.3 | 3.1 | 2.7 | 3.3 | 1.5 |
| July | 430.0 | 0.2 | 2.0 | 2.8 | 5.2 | 1.9 |
| August | 432.3 | 0.5 | 6.6 | 3.9 | 4.9 | 2.2 |
| September | 430.6 | -0.4 | -4.6 | 1.2 | 2.0 | 1.9 |
| October | 430.9 | 0.1 | 0.8 | 0.8 | 1.8 | 1.8 |
| November | 429.4 | -0.3 | -4.1 | -2.7 | 0.6 | 2.0 |
| December | 430.8 | 0.3 | 4.0 | 0.2 | 0.7 | 2.0 |
| 2016 | ||||||
| January | 428.3 | -0.6 | -6.7 | -2.4 | -0.8 | 2.1 |
| February | 431.2 | 0.7 | 8.4 | 1.7 | -0.5 | 2.2 |
| March | 432.8 | 0.4 | 4.5 | 1.9 | 1.0 | 1.5 |
| April | 433.7 | 0.2 | 2.5 | 5.1 | 1.3 | 1.6 |
| May | 435.5 | 0.4 | 5.1 | 4.0 | 2.9 | 1.7 |
| June | 436.3 | 0.2 | 2.2 | 3.3 | 2.6 | 1.6 |
| Percentage changes, not seasonally adjusted. | ||||||