The CPI based on prices in July 2009 is 345.1 points (May 1988=100), 0.17% higher than in the previous month. The CPI less housing cost is 323.9 points, 0.56% higher than in June.
Summer sales are widely underway, reducing prices of clothing and footwear by 7.3% (effect on the index -0.43%). Cost for owner occupied housing decreased by 2.6% (-0.35%), thereof the effect of lower market prices was -0.32% and of lower real interest rates -0.03%.
Prices of petrol and diesel oil rose by 4.8% (0.23%). Thereof the effect of increase in specific tax on petrol was 0.28%. Prices of furniture and furnishings increased by 4.7% (0.16%) and of new cars by 3.4% (0.12%).
The CPI in July 2009 is 11.3% higher than in July 2008 while the CPI less housing cost is 16.4% higher than one year ago. Over the last three months, the CPI has increased by 2.7%, equivalent to an annual inflation rate of 11.3% (16.7% for the CPI less housing cost).
The CPI compiled in the middle of July 2009, 345.1 points, is applicable for indexation purposes in September 2009. The old credit terms index for September 2009 is 6,814 points.
| The Icelandic consumer price index 2008-2009 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2008 | ||||||
| July | 310.0 | 0.9 | 11.9 | 13.6 | 20.6 | 13.6 |
| August | 312.8 | 0.9 | 11.4 | 11.5 | 19.5 | 14.5 |
| September | 315.5 | 0.9 | 10.9 | 11.4 | 18.0 | 14.0 |
| October | 322.3 | 2.2 | 29.2 | 16.8 | 15.2 | 15.9 |
| November | 327.9 | 1.7 | 23.0 | 20.8 | 16.0 | 17.1 |
| December | 332.9 | 1.5 | 19.9 | 24.0 | 17.5 | 18.1 |
| 2009 | ||||||
| January | 334.8 | 0.6 | 7.1 | 16.4 | 16.6 | 18.6 |
| February | 336.5 | 0.5 | 6.3 | 10.9 | 15.7 | 17.6 |
| March | 334.5 | -0.6 | -6.9 | 1.9 | 12.4 | 15.2 |
| April | 336.0 | 0.4 | 5.5 | 1.4 | 8.7 | 11.9 |
| May | 339.8 | 1.1 | 14.4 | 4.0 | 7.4 | 11.6 |
| June | 344.5 | 1.4 | 17.9 | 12.5 | 7.1 | 12.2 |
| July | 345.1 | 0.2 | 2.1 | 11.3 | 6.2 | 11.3 |
| Percentage changes, not seasonally adjusted. | ||||||
| Consumer price index by economic categories 2009 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| June | July | % | ||
| Consumer Price Index | 193.0 | 193.3 | 11.3 | 11.3 |
| Thereof: | ||||
| Domestic goods | 168.4 | 168.7 | 12.6 | 1.6 |
| Agricultural products | 159.8 | 158.7 | 7.7 | 0.5 |
| Domestic goods less agricultural products and vegetables | 174.7 | 176.2 | 16.6 | 1.2 |
| Imported goods | 171.8 | 173.0 | 22.4 | 7.9 |
| Imported goods less, alcohol and tobacco | 165.7 | 166.9 | 21.3 | 6.9 |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 193.7 | 193.7 | 11.8 | 10.4 |
| Core index 2 (core index 1 less public services) | 196.9 | 196.8 | 12.4 | 10.0 |
| Core index 3 (core index 2 less effects of interest rate) | 195.2 | 195.1 | 13.0 | 10.3 |
| Groceries (perishable items) | 174.4 | 174.8 | 18.3 | 3.0 |
Statistics