The Consumer Price Index (CPI) based on prices in April 2019 is 467.0 points (May 1988=100), 0.37% higher than in the previous month. The CPI less housing cost is 399.4 points, 0.48% higher than in March 2019.

Prices of international flights increased by 20.6% from the previous month (effect on the index 0.29%). A bankruptcy of an airline servicing international passenger flights to and from Iceland at the end of March had an effect on the CPI this month. Furthermore, prices of international flights usually rise in the Easter months. The compilation takes into account prices of the main flight routes between Iceland and Europe on one hand and Iceland and North-America on the other hand. Prices are collected from the main service providers on each route assuming a travel from Iceland and back.

Prices of petrol and diesel oil increased by 2.5% (0.08%) from last month.

The CPI is 3.3% higher in April 2019 than in April 2018 while the CPI less housing cost is 2.8% higher than one year ago.

The CPI compiled in the middle of April 2019, 467.0 points, is applicable for indexation purposes in June 2019. The old credit terms index for June 2019 is 9,221 points.

The consumer price index is now published on a new base, March 2019. The rebasing of the index is primarily built on Statistics Iceland’s household expenditure survey 2016–2017. Other sources were utilized where more recent and reliable information was available, such as for new car registrations. Outlet weights for grocery stores remained unchanged. The rebasing of the index does not in itself have any effect on the CPI results in April. Expenditure shares according to the new and old base in March 2018 can be found in a memorandum.

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