The Consumer Price Index (CPI) based on prices in October 2016 is 438.5 points (May 1988=100), the same as it was in September 2016. The CPI less housing cost is 395.0 points, 0.28% lower than in September.
The cost of owner occupied housing (imputed rent) rose by 1.3% (effect on the index 0.21%) but prices for food declined by 1.0% (-0.15%).
The CPI is 1.8% higher in October 2016 than in October 2015 while the CPI less housing cost has decreased by 0.5% from one year ago.
The CPI compiled in the middle of October 2016, 438.5 points, is applicable for indexation purposes in December 2016. The old credit terms index for December 2016 is 8,658 points.
| Consumer price index by economic categories 2016 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| September | October | % | ||
| Consumer Price Index | 245.7 | 245.7 | 1.8 | 1.8 |
| Thereof: | ||||
| Domestic goods and vegetables | 225.8 | 224.6 | 1.2 | 0.2 |
| Agricultural products | 214.1 | 212.0 | 0.8 | 0.1 |
| Domestic goods less agricultural products | 233.9 | 233.5 | 1.7 | 0.1 |
| Imported goods | 187.7 | 187.0 | -3.0 | -1.0 |
| Imported goods less, alcohol and tobacco | 177.7 | 177.0 | -3.5 | -1.1 |
| Groceries (perishable items) | 217.3 | 215.4 | -0.4 | -0.1 |
| 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 | ||||||
| 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 |
| July | 434.9 | -0.3 | -3.8 | 1.1 | 3.1 | 1.1 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||