The CPI compiled in August 2007 is 273.1 points (May 1988=100), 0.04% higher than in the previous month. The CPI less housing cost is 245.0 points, 0.37% lower than in July.
Continued Summer sales led to 6.8% decrease in prices of clothing and footwear (effect on the index -0.29%).
Cost of owner occupied housing rose by 1.5% (0.28%), an effect of 0.24% owing to higher market prices of housing and 0.04% owing to higher real interest rates.
The CPI in August 2007 is 3.4% higher than in August 2006 while the CPI less housing cost is 0.5% higher than one year ago. The constant tax-rate CPI is 5.3% higher in August 2007 than in August 2006. Over the last three months, the CPI rose by 0.8%, equivalent to an annual inflation rate of 3.1% (CPI less housing cost 1.1% deflation).
The credit terms index applicable in September 2007 is 273.1 points. The old credit terms index is 5.392 points for September 2007.
| The Icelandic Consumer Price Index 2006-2007 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2006 | ||||||
| August | 264.0 | 0.3 | 4.2 | 8.1 | 12.0 | 8.6 |
| September | 265.6 | 0.6 | 7.5 | 5.8 | 10.8 | 7.6 |
| October | 266.2 | 0.2 | 2.7 | 4.8 | 8.8 | 7.2 |
| November | 266.1 | 0.0 | -0.4 | 3.2 | 5.6 | 7.3 |
| December | 266.2 | 0.0 | 0.5 | 0.9 | 3.3 | 7.0 |
| 2007 | ||||||
| January | 266.9 | 0.3 | 3.2 | 1.1 | 2.9 | 6.9 |
| February | 268.0 | 0.4 | 5.1 | 2.9 | 3.1 | 7.4 |
| March | 267.1 | -0.3 | -4.0 | 1.4 | 1.1 | 5.9 |
| April | 268.7 | 0.6 | 7.4 | 2.7 | 1.9 | 5.3 |
| May | 271.0 | 0.9 | 10.8 | 4.6 | 3.7 | 4.7 |
| June | 272.4 | 0.5 | 6.4 | 8.2 | 4.7 | 4.0 |
| July | 273.0 | 0.2 | 2.7 | 6.6 | 4.6 | 3.8 |
| August | 273.1 | 0.0 | 0.4 | 3.1 | 3.8 | 3.4 |
| Percentage changes, not seasonally adjusted. | ||||||
| Consumer price index by economic categories 2007 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| July | August | % | ||
| Consumer Price Index | 153.0 | 153.0 | 3.4% | 3.4% |
| Thereof: | ||||
| Domestic goods | 130.8 | 131.2 | -3.3% | -0.5% |
| Agricultural products | 126.8 | 127.9 | -3.0% | -0.2% |
| Domestic goods less agricultural products and vegetables | 133.3 | 133.1 | -3.5% | -0.3% |
| Imported goods | 120.2 | 118.6 | -1.0% | -0.3% |
| Imported goods less, alcohol and tobacco | 116.1 | 114.4 | -1.3% | -0.4% |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 155.0 | 155.1 | 4.8% | 4.2% |
| Core index 2 (core index 1 less public services) | 155.8 | 155.9 | 4.8% | 3.9% |
| Groceries (perishable items) | 124.8 | 124.8 | -3.9% | -0.6% |
Statistics