The CPI based on prices in November 2008 is 327.9 points (May 1988=100), 1.74% higher than in the previous month. The CPI less housing cost is 298.3 points, 1.84% higher than in October.
Prices of food and beverages rose by 3.6% (effect on the index 0.46%), prices of alcoholic beverages and tobacco increased 6.5% (0.17%) and of clothing and footwear by 3.0% (0.14%). Prices of furniture and household equipment rose by 3.4% (0.24%), prices of TV-sets, DVD-players etc. by 6.9% (0.11%) and prices of material for housing maintenance rose by 7.0% (0.29%).
Prices of new cars rose by 1.1% (0.08%). Trade of new cars is negligible and therefore Statistics Iceland only measures price changes of sold cars instead of using catalogue prices for all cars. This is based on detailed information on car registration from the Road Traffic Directorate and on transaction prices collected directly from car retailers.
The CPI in November 2008 is 17.1% higher than in November 2007 while the CPI less housing cost is 19.5% higher than one year ago. Over the last three months, the CPI has increased 4.8%, equivalent to an annual inflation rate of 20.8% (27.4% for the CPI less housing cost).
The CPI compiled at the middle of November, 327.9 points, is applicable for indexation purposes in January 2009. The old credit terms index for January 2009 is 6,474 points.
| The Icelandic consumer price index 2007-2008 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2007 | ||||||
| November | 279.9 | 0.6 | 8.0 | 10.3 | 6.7 | 5.2 |
| December | 281.8 | 0.7 | 8.5 | 7.6 | 7.0 | 5.9 |
| 2008 | ||||||
| January | 282.3 | 0.2 | 2.2 | 6.2 | 6.9 | 5.8 |
| February | 286.2 | 1.4 | 17.9 | 9.3 | 9.8 | 6.8 |
| March | 290.4 | 1.5 | 19.1 | 12.8 | 10.1 | 8.7 |
| April | 300.3 | 3.4 | 49.5 | 28.0 | 16.6 | 11.8 |
| May | 304.4 | 1.4 | 17.7 | 28.0 | 18.3 | 12.3 |
| June | 307.1 | 0.9 | 11.2 | 25.1 | 18.8 | 12.7 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||
| Consumer price index by economic categories 2008 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| October | November | % | ||
| Consumer Price Index | 180.6 | 183.7 | 17.1 | 17.1 |
| Thereof: | ||||
| Domestic goods | 157.6 | 161.8 | 21.7 | 2.8 |
| Agricultural products | 152.5 | 158.5 | 22.8 | 1.2 |
| Domestic goods less agricultural products and vegetables | 160.7 | 163.6 | 20.9 | 1.5 |
| Imported goods | 150.0 | 154.2 | 26.0 | 8.8 |
| Imported goods less, alcohol and tobacco | 146.5 | 150.2 | 27.0 | 8.4 |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 181.2 | 184.3 | 16.1 | 14.4 |
| Core index 2 (core index 1 less public services) | 183.4 | 186.8 | 16.8 | 13.9 |
| Core index 3 (core index 2 less effects of interest rate) | 180.8 | 184.2 | 15.5 | 12.8 |
| Groceries (perishable items) | 158.7 | 164.9 | 30.6 | 4.3 |