The CPI compiled in July 2005 is 242.7 points (May 1988=100), 0.12% higher than in the previous month. The CPI less housing cost is 227.9 points, 0.13% lower than in June.
The beginning of the summer sales led to a 9.3% lowering of the index for clothing and footwear (-0.51% effect on the CPI).
Owner occupied housing cost rose by 1.4% (0.22%); the effect of higher market prices of houses was 0.30% and of lower average real mortage rates -0.08%. Groceries’ prices rose by 0.8% (0.13%). Prices of petrol rose by 3.8% (0.14%)
On the first of July 2005 the weight-distance tax was abolished and a new diesel tax adopted, included in the price of diesel oil. The price of oil rose by 105.7% leading to a 0.61% increase in the CPI. The weight distance tax was included in the CPI base and its abolition led to a 0.48% lowering of the CPI. The total effect on the CPI was therefore an increase by 0.13%.
The CPI in July 2005 is 3.5% higher than in July 2004 and the CPI less housing cost is 0.1% higher. The CPI rose by 0.3% over the last three months equivalent to an annual inflation of 1.2% (CPI less housing cost: 0.7% deflation).
The credit term index in August 2005 is 242.7 points. The old credit term index is 4,792 points in August 2005.
| The Icelandic Consumer Price Index 2004-2005 | ||||||
| Percentage changes, not seasonally adjusted | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2004 | ||||||
| July | 234.6 | -0.5 | -5.5 | 4.6 | 3.9 | 3.6 |
| August | 234.6 | 0.0 | 0.0 | 1.2 | 4.6 | 3.7 |
| September | 235.6 | 0.4 | 5.2 | -0.2 | 4.3 | 3.4 |
| October | 237.4 | 0.8 | 9.6 | 4.9 | 4.7 | 3.7 |
| November | 237.9 | 0.2 | 2.6 | 5.7 | 3.4 | 3.8 |
| December | 239.0 | 0.5 | 5.7 | 5.9 | 2.8 | 3.9 |
| 2005 | ||||||
| January | 239.2 | 0.1 | 1.0 | 3.1 | 4.0 | 4.0 |
| February | 239.7 | 0.2 | 2.5 | 3.1 | 4.4 | 4.5 |
| March | 241.5 | 0.8 | 9.4 | 4.3 | 5.1 | 4.7 |
| April | 242.0 | 0.2 | 2.5 | 4.8 | 3.9 | 4.3 |
| May | 240.7 | -0.5 | -6.3 | 1.7 | 2.4 | 2.9 |
| June | 242.4 | 0.7 | 8.8 | 1.5 | 2.9 | 2.8 |
| July | 242.7 | 0.1 | 1.5 | 1.2 | 2.9 | 3.5 |
| Consumer price index by economic categories 2005 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| June 2005 | July 2005 | Effect on the index | ||
| % | ||||
| Consumer Price Index | 135.8 | 136.0 | 3.4% | 3.4% |
| Thereof: | ||||
| Domestic goods | 121.5 | 122.3 | -2.6% | -0.4% |
| Agricultural products | 115.1 | 118.6 | -0.6% | 0.0% |
| Domestic goods less agricultural products and vegetables | 125.8 | 124.6 | -3.9% | -0.4% |
| Imported goods | 113.1 | 112.1 | -1.5% | -0.5% |
| Imported goods less, alcohol and tobacco | 109.3 | 108.2 | -2.2% | -0.6% |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 137.8 | 137.3 | 3.6% | 3.2% |
| Core index 2 (core index 1 less public services) | 137.7 | 137.1 | 3.4% | 2.7% |
| Groceries (perishable items) | 113.9 | 114.8 | -5.8% | -1.0% |
Statistics