The Consumer Price Index (CPI) based on prices in July 2021, is 503.5 points (May 1988=100), 0.16% higher than in the previous month. The CPI less housing cost is 427.3 points, 0.05% lower than in June 2021.

Summer sales are in action causing a decrease in prices of clothing and footwear by 5.3% (effect on the index -0.20%). Prices of international flights increased by 11.1% (0.16%), cost of owner occupied housing (imputed rent) rose by 0.9% (0.14%) and prices of petrol and diesel increased by 3.9% (0.12%).

The CPI is 4.3% higher in July 2021 than in July 2020 and the CPI less housing cost is 3.4% higher than one year ago.

The CPI compiled in the middle of July 2021, 503.5 points, is applicable for indexation purposes in September 2021. The old credit terms index for September 2021 is 9,942 points.

The Icelandic consumer price index 2020-2021
May 1988 = 100 Monthly index Monthly changes, % Annual changes, %
2020
July482.90.153.0
August485.10.463.2
September487.00.393.5
October489.10.433.6
November489.30.043.5
December490.30.203.6
2021
January490.0-0.064.3
February493.40.694.1
March495.80.494.3
April499.30.714.6
May501.40.424.4
June502.70.264.3
July503.50.164.3

Statistics