The Consumer Price Index (CPI), based on prices in January 2021, is 490.0 points (May 1988=100), 0.06% lower than in the previous month. The CPI less housing cost is 419.3 points, 0.24% lower than in December 2020.
Winter sales are ongoing and prices of clothing and footwear decreased by 6.5% (effect on the index -0.23%) and prices of furniture and furnishings decreased by 3.3% (-0.19%). Housing, water and electricity increased by 0.6% (0.19%), food and non-alcoholic beverages increased by 0.6% (0.10%) and fuels and lubricants increased by 3.1% (0.10%).
The CPI is 4.3% higher in January 2021 than in January 2020 and the CPI less housing cost is 4.7% higher than one year ago.
The CPI compiled in the middle of January 2021, 490.0 points, is applicable for indexation purposes in March 2021. The old credit terms index for March 2021 is 9,675 points.
| The Icelandic consumer price index 2020-2021 | |||
| May 1988 = 100 | Monthly index | Monthly changes, % | Annual changes, % |
| 2020 | |||
| January | 469.8 | -0.74 | 1.7 |
| February | 474.1 | 0.92 | 2.4 |
| March | 475.2 | 0.23 | 2.1 |
| April | 477.5 | 0.48 | 2.2 |
| May | 480.1 | 0.54 | 2.6 |
| June | 482.2 | 0.44 | 2.6 |
| July | 482.9 | 0.15 | 3.0 |
| August | 485.1 | 0.46 | 3.2 |
| September | 487.0 | 0.39 | 3.5 |
| October | 489.1 | 0.43 | 3.6 |
| November | 489.3 | 0.04 | 3.5 |
| December | 490.3 | 0.20 | 3.6 |
| 2021 | |||
| January | 490.0 | -0.06 | 4.3 |