The Consumer Price Index (CPI) based on prices in June 2024, is 630.3 points (May 1988=100), 0.48% higher than in the previous month. The CPI less housing cost is 510.6 points, 0.41% higher than in May 2024.
Cost of owner occupied housing (imputed rent) increased by 0.8% (effect on index 0.15%). Prices of international flights increased by 8.0% from the previous month (0.15%). Prices of hotels, cafés and restaurants increased by 2.1% (0.11) mainly due to a rise in the prices of accommodation services by 17.0% (0.09%).
The CPI is 5.8% higher in June 2024 than in June 2023 and the CPI less housing cost is 4.0% higher than one year ago.
The CPI compiled in the middle of June 2024, 630.3 points, is applicable for indexation purposes in August 2024.
Rental equivalence used for imputed rent for housing
Statistics Iceland uses now for the first time method of rental equivalence for calculating imputed rent for housing. A working paper on the methodology was published in April.