The Consumer Price Index (CPI) based on prices in February 2017 is 439.6 points (May 1988=100) which is 0.71% higher than in the previous month. The CPI less housing cost is 390.3 points, 0.59% higher than in January 2017.
The cost of owner occupied housing (imputed rent) rose by 1.7% (effect on the index 0.29%). Prices of household appliances increased by 19.3% (0.12%) and prices of furniture and furnishings increased by 8.8% (0.11%) after winter sales.
The CPI is 1.9% higher in February 2017 than in February 2016 while the CPI less housing cost has decreased by 1.0% from one year ago.
The CPI compiled in the middle of February 2017, 439.6 points, is applicable for indexation purposes in April 2017. The old credit terms index for April 2017 is 8,680 points.
| Consumer price index by economic categories 2016-2017 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| January | February | % | ||
| Consumer Price Index | 244.5 | 246.3 | 1.9 | 1.9 |
| Thereof: | ||||
| Domestic goods and vegetables | 223.8 | 224.5 | 1.3 | 0.2 |
| Agricultural products | 212.1 | 214.0 | 2.7 | 0.2 |
| Domestic goods less agricultural products | 232.0 | 231.5 | 0.1 | 0.0 |
| Imported goods | 180.0 | 181.9 | -3.5 | -1.2 |
| Imported goods less, alcohol and tobacco | 169.0 | 170.8 | -4.3 | -1.3 |
| Groceries (perishable items) | 212.4 | 212.4 | -1.3 | -0.2 |
| 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 | ||||||
| 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 |
| September | 438.5 | 0.5 | 5.9 | 2.0 | 2.7 | 1.8 |
| October | 438.5 | 0.0 | 0.0 | 3.4 | 2.2 | 1.8 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||