Please note that this press release was corrected 29 August 2017 at 11:14
The Consumer Price Index (CPI) based on prices in July 2017 is 442.9 points (May 1988=100), 0.02% lower than previous month. The CPI less housing cost is 383.8 points, 0.57% lower than in June 2017.
Prices of clothing and footwear decreased by 11.0% (effect on the index -0.41%). Cost of owner occupied housing (imputed rent), rose by 1.7% (0.34%) and international airfares rose by 20.3% (0.25%).
The CPI is 1.8% higher in July 2017 than in July 2016 while the CPI less housing cost is 3.1% lower than one year ago.
The CPI compiled in the middle of July 2017, 442.9 points, is applicable for indexation purposes in September 2017. The old credit terms index for September 2017 is 8,745 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 | ||||||
| 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 |
| 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 | 3.0¹ | 1.8 |
| Percentage changes, not seasonally adjusted. | ||||||
¹Value revised on 29 August 2017