The CPI based on prices in January is 363.4 points (May 1988=100), 0.90% lower than in the previous month. The CPI less housing cost is 346.1 points, 0.97% lower than in December.
Winter sales caused a 10% decrease in prices of clothing and footwear (effect on the index -0.66%) and 3.1% decrease in furniture and household equipment prices (-0.21%). Cost of owner occupied housing declined by 1.8% (-0.22%). International airfares decreased by 15.0% (-0.14%).
The earlier announced change in the treatment of radio charge lowered the index by 0.41%. Prices for other public services rose by 3.4% (0.25%).
Prices of food and beverages rose by 1.4% (0.21%) and of petrol and diesel oil by 3.1% (0.18%).
The effect of higher special duties on alcohol, tobacco and fuels was 0.21% on the CPI.
The CPI in January 2011 is 1.8% higher than in January 2010 while the CPI less housing cost is 2.4% higher than one year ago. Over the last three months, the CPI has decreased by 0.5%, equivalent to an annual deflation rate of 2.1% (1.8% deflation for the CPI less housing cost).
The CPI compiled in the middle of January 2011, 363.4 points, is applicable for indexation purposes in March 2011. The old credit terms index for March 2011 is 7,175 points.
| The Icelandic consumer price index 2010-2011 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2010 | ||||||
| January | 356.8 | -0.3 | -3.6 | 3.7 | 6.9 | 6.6 |
| February | 360.9 | 1.1 | 14.7 | 5.4 | 8.2 | 7.3 |
| March | 362.9 | 0.6 | 6.9 | 5.7 | 7.8 | 8.5 |
| April | 363.8 | 0.2 | 3.0 | 8.1 | 5.9 | 8.3 |
| May | 365.3 | 0.4 | 5.1 | 5.0 | 5.2 | 7.5 |
| June | 364.1 | -0.3 | -3.9 | 1.3 | 3.5 | 5.7 |
| July | 361.7 | -0.7 | -7.6 | -2.3 | 2.8 | 4.8 |
| August | 362.6 | 0.2 | 3.0 | -2.9 | 0.9 | 4.5 |
| September | 362.6 | 0.0 | 0.0 | -1.6 | -0.2 | 3.7 |
| October | 365.3 | 0.7 | 9.3 | 4.0 | 0.8 | 3.3 |
| November | 365.5 | 0.1 | 0.7 | 3.2 | 0.1 | 2.6 |
| December | 366.7 | 0.3 | 4.0 | 4.6 | 1.4 | 2.5 |
| 2011 | ||||||
| January | 363.4 | -0.9 | -10.3 | -2.1 | 0.9 | 1.8 |
| Percentage changes, not seasonally adjusted. | ||||||
| Consumer price index by economic categories 2010-2011 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| December | January | % | ||
| Consumer Price Index | 205.5 | 203.6 | 1.8 | 1.8 |
| Thereof: | ||||
| Domestic goods and vegetables | 180.9 | 182.7 | 2.8 | 0.4 |
| Agricultural products | 165.8 | 168.0 | 2.7 | 0.2 |
| Domestic goods less agricultural products | 192.8 | 194.3 | 2.9 | 0.2 |
| Imported goods | 186.0 | 183.2 | 0.8 | 0.3 |
| Imported goods less, alcohol and tobacco | 179.6 | 176.0 | 0.6 | 0.2 |
| Groceries (perishable items) | 182.8 | 185.1 | 0.8 | 0.1 |
Statistics