The Consumer Price Index (CPI) based on prices in January 2018 is 446.8 points (May 1988=100), 0.09% lower than in the previous month. The CPI less housing cost is 384.4 points, 0.57% lower than in December 2017.

Winter sales are ongoing and prices of clothing and footwear decreased by 10.0% (effect on the index -0.35%). Cost of owner occupied housing (imputed rent) rose by 0.9% (0.19%). Cost of international airfares decreased by 9.0% (-0.10%).

The CPI is 2.4% higher in January 2018 than in January 2017 while the CPI less housing cost is 0.9% lower than one year ago.

The CPI compiled in the middle of January 2018, 446.8 points, is applicable for indexation purposes in March 2018. The old credit terms index for March 2018 is 8,822 points.

The Icelandic consumer price index 2017-2018
May 1988 = 100   Annualized rates
  Monthly index Monthly changes Latest month Latest 3 months Latest 6 months Latest 12 months
 
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
September 444.6 0.1 1.6 1.5 2.1 1.4
October 446.7 0.5 5.8 3.5 2.1 1.9
November 446.0 -0.2 -1.9 1.8 1.4 1.7
December 447.2 0.3 3.3 2.4 1.9 1.9
2018            
January 446.8 -0.1 -1.1 0.1 1.8 2.4
Percentage changes, not seasonally adjusted.        

Statistics