The Consumer Price Index (CPI) based on prices in March 2017 is 439.9 points (May 1988=100) which is 0.07% higher than in the previous month. The CPI less housing cost is 389.2 points, 0.28% lower than in February 2017.
Prices of clothing and footwear rose by 7.9% (effect on the index 0.30%) and the cost of owner occupied housing (imputed rent) rose by 1.7% (0.28%). Products and services related to transport declined by 1.7% (-0.25%), prices of food and non-alcoholic beverages declined by 0.9% (-0.13%) and prices of furnishings and other household equipment declined by 2.7% (-0.11%).
The CPI is 1.6% higher in March 2017 than in March 2016 while the CPI less housing cost has decreased by 1.7% from one year ago.
The CPI compiled in the middle of March 2017, 439.9 points, is applicable for indexation purposes in May 2017. The old credit terms index for May 2017 is 8,686 points.
| The Icelandic consumer price index 2016-2017 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2016 | ||||||
| March | 432.8 | 0.4 | 4.5 | 1.9 | 1.0 | 1.5 |
| April | 433.7 | 0.2 | 2.5 | 5.1 | 1.3 | 1.6 |
| May | 435.5 | 0.4 | 5.1 | 4.0 | 2.9 | 1.7 |
| June | 436.3 | 0.2 | 2.2 | 3.3 | 2.6 | 1.6 |
| July | 434.9 | -0.3 | -3.8 | 1.1 | 3.1 | 1.1 |
| August | 436.4 | 0.3 | 4.2 | 0.8 | 2.4 | 0.9 |
| September | 438.5 | 0.5 | 5.9 | 2.0 | 2.7 | 1.8 |
| October | 438.5 | 0.0 | 0.0 | 3.4 | 2.2 | 1.8 |
| November | 438.4 | 0.0 | -0.3 | 1.8 | 1.3 | 2.1 |
| December | 439.0 | 0.1 | 1.7 | 0.5 | 1.2 | 1.9 |
| 2017 | ||||||
| January | 436.5 | -0.6 | -6.6 | -1.8 | 0.7 | 1.9 |
| February | 439.6 | 0.7 | 8.9 | 1.1 | 1.5 | 1.9 |
| March | 439.9 | 0.1 | 0.8 | 0.8 | 0.6 | 1.6 |
| Percentage changes, not seasonally adjusted. | ||||||