The Consumer Price Index (CPI) based on prices in August 2016 is 436.4 points (May 1988=100), 0.34% higher than in July 2016. The CPI less housing cost is 396.5 points, 0.13% higher than in July.
Summer sales have by and large come to a close causing an increase in prices of clothing and footwear by 6,6% (effect on index 0.25%). Cost of owner occupied housing (imputed rent) rose by 1.5% (0.23%). Prices for petrol and diesel oil decreased by 4.1% (-0.15%) and prices of new cars decreased by 2.1% (-0.13%).
The CPI is 0.9% higher in August 2016 than in August 2015 while the CPI less housing cost has decreased 0.9% from one year ago.
The CPI compiled in the middle of August 2016, 436.4 points, is applicable for indexation purposes in October 2016. The old credit terms index for October 2016 is 8,617 points.
| Consumer price index by economic categories 2016 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| July | August | % | ||
| Consumer Price Index | 243.7 | 244.5 | 1.0 | 1.0 |
| Thereof: | ||||
| Domestic goods and vegetables | 225.3 | 226.4 | 2.4 | 0.3 |
| Agricultural products | 212.3 | 214.4 | 2.1 | 0.1 |
| Domestic goods less agricultural products | 234.7 | 234.8 | 2.8 | 0.2 |
| Imported goods | 186.7 | 187.1 | -3.1 | -1.1 |
| Imported goods less, alcohol and tobacco | 176.6 | 177.0 | -3.6 | -1.2 |
| Groceries (perishable items) | 216.9 | 217.8 | 0.8 | 0.1 |
| The Icelandic consumer price index 2015-2016 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2015 | ||||||
| August | 432.3 | 0.5 | 6.6 | 3.9 | 4.9 | 2.2 |
| September | 430.6 | -0.4 | -4.6 | 1.2 | 2.0 | 1.9 |
| October | 430.9 | 0.1 | 0.8 | 0.8 | 1.8 | 1.8 |
| November | 429.4 | -0.3 | -4.1 | -2.7 | 0.6 | 2.0 |
| December | 430.8 | 0.3 | 4.0 | 0.2 | 0.7 | 2.0 |
| 2016 | ||||||
| January | 428.3 | -0.6 | -6.7 | -2.4 | -0.8 | 2.1 |
| February | 431.2 | 0.7 | 8.4 | 1.7 | -0.5 | 2.2 |
| March | 432.8 | 0.4 | 4.5 | 1.9 | 1.0 | 1.5 |
| April | 433.7 | 0.2 | 2.5 | 5.1 | 1.3 | 1.6 |
| May | 435.5 | 0.4 | 5.1 | 4.0 | 2.9 | 1.7 |
| June | 436.3 | 0.2 | 2.2 | 3.3 | 2.6 | 1.6 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||