The Consumer Price Index (CPI) based on prices in December 2017 is 447.2 points (May 1988=100), 0.27% higher than in the previous month. The CPI less housing cost is 386.6 points, 0.62% higher than in November 2017.
Cost of owner occupied housing (imputed rent) declined by 1.1% (effect on the index -0.22%). Cost of international airfares increased by 24.5% (0.22%).
The CPI is 1.9% higher in December 2017 than in December 2016 while the CPI less housing cost is 1.6% lower than one year ago.
The CPI compiled in the middle of December 2017, 447.2 points, is applicable for indexation purposes in February 2018. The old credit terms index for February 2018 is 8,830 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 | ||||||
| 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 | 3.0 | 1.8 |
| August | 444.0 | 0.2 | 3.0 | 0.9 | 2.0 | 1.7 |
| September | 444.6 | 0.1 | 1.6 | 1.5 | 2.1 | 1.4 |
| October | 446.7 | 0.5 | 5.8 | 3.5 | 2.1 | 1.9 |
| November | 446.0 | -0.2 | -1.9 | 1.8 | 1.4 | 1.7 |
| December | 447.2 | 0.3 | 3.3 | 2.4 | 1.9 | 1.9 |
| Percentage changes, not seasonally adjusted. | ||||||