The Consumer Price Index (CPI) based on prices in July 2019 is 468.8 points (May 1988=100), 0.21% lower than in the previous month. The CPI less housing cost is 400.0 points, 0.42% lower than in June 2019.
Summer sales are widely in action causing a decrease in prices of clothing and footwear by 11.2% (effect on the index -0.49%). Prices of furniture decreased by 9.2% (-0.12%). Prices of international flights increased by 6.3% from the previous month (0.10%). Prices of hotels and restaurants increased by 1.9% (0.11%).
The CPI is 3.1% higher in July 2019 than in July 2018 while the CPI less housing cost is 2.8% higher than one year ago.
The CPI compiled in the middle of July 2019, 468.8 points, is applicable for indexation purposes in September 2019. The old credit terms index for September 2019 is 9,256 points.
| The Icelandic consumer price index 2018-2019 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2018 | ||||||
| July | 454,8 | 0,0 | 0,5 | 2,3 | 3,6 | 2,7 |
| August | 455,7 | 0,2 | 2,4 | 3,5 | 2,8 | 2,6 |
| September | 456,8 | 0,2 | 2,9 | 1,9 | 2,1 | 2,7 |
| October | 459,4 | 0,6 | 7,0 | 4,1 | 3,2 | 2,8 |
| November | 460,5 | 0,2 | 2,9 | 4,3 | 3,9 | 3,3 |
| December | 463,9 | 0,7 | 9,2 | 6,4 | 4,1 | 3,7 |
| 2019 | ||||||
| January | 462,0 | -0,4 | -4,8 | 2,3 | 3,2 | 3,4 |
| February | 462,9 | 0,2 | 2,4 | 2,1 | 3,2 | 3,0 |
| March | 465,3 | 0,5 | 6,4 | 1,2 | 3,8 | 2,9 |
| April | 467,0 | 0,4 | 4,5 | 4,4 | 3,3 | 3,3 |
| May | 468,0 | 0,2 | 2,6 | 4,5 | 3,3 | 3,6 |
| June | 469,8 | 0,4 | 4,7 | 3,9 | 2,6 | 3,3 |
| July | 468,8 | -0,2 | -2,5 | 1,6 | 3,0 | 3,1 |
| Percentage changes, not seasonally adjusted. | ||||||