The CPI compiled in October 2007 is 278.1 points (May 1988=100), 0.51% higher than in the previous month. The CPI less housing cost is 248.7 points, 0.36% higher than in September.
Cost of owner occupied housing rose by 0.8%, with 0.16% effect on the index. Thereof 0.1% was due to higher market prices of housing and 0.06% to higher real interest rates.
Summer sales have come to an end causing 3.5% increase in prices of clothing and footwear (0.15%) and prices of food and non-alcoholic beverages rose by 1.0% (0.12%).
The CPI in October 2007 is 4.5% higher than in October 2006 while the CPI less housing cost is 1.3% higher than one year ago. The constant tax-rate CPI is 6.3% higher in October 2007 than in October 2006. Over the last three months, the CPI has risen by 1.9%, equivalent to an annual inflation rate of 7.7% (4.6% for the CPI less housing cost).
The credit terms index applicable in November 2007 is 278.1 points. The old credit terms index is 5.491 points for November 2007.
| The Icelandic Consumer Price Index 2006-2007 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2006 | ||||||
| October | 266.2 | 0.2 | 2.7 | 4.8 | 8.8 | 7.2 |
| November | 266.1 | 0.0 | -0.4 | 3.2 | 5.6 | 7.3 |
| December | 266.2 | 0.0 | 0.5 | 0.9 | 3.3 | 7.0 |
| 2007 | ||||||
| January | 266.9 | 0.3 | 3.2 | 1.1 | 2.9 | 6.9 |
| February | 268.0 | 0.4 | 5.1 | 2.9 | 3.1 | 7.4 |
| March | 267.1 | -0.3 | -4.0 | 1.4 | 1.1 | 5.9 |
| April | 268.7 | 0.6 | 7.4 | 2.7 | 1.9 | 5.3 |
| May | 271.0 | 0.9 | 10.8 | 4.6 | 3.7 | 4.7 |
| June | 272.4 | 0.5 | 6.4 | 8.2 | 4.7 | 4.0 |
| July | 273.0 | 0.2 | 2.7 | 6.6 | 4.6 | 3.8 |
| August | 273.1 | 0.0 | 0.4 | 3.1 | 3.8 | 3.4 |
| September | 276.7 | 1.3 | 17.0 | 6.5 | 7.3 | 4.2 |
| October | 278.1 | 0.5 | 6.2 | 7.7 | 7.1 | 4.5 |
| Percentage changes, not seasonally adjusted. | ||||||
| Consumer price index by economic categories 2007 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| September | October | % | ||
| Consumer Price Index | 155,0 | 155,8 | 4,5% | 4,5% |
| Thereof: | ||||
| Domestic goods | 132,0 | 133,0 | -3,2% | -0,5% |
| Agricultural products | 128,7 | 130,0 | -2,2% | -0,1% |
| Domestic goods less agricultural products and vegetables | 133,9 | 134,8 | -3,9% | -0,3% |
| Imported goods | 121,3 | 121,7 | 0,8% | 0,3% |
| Imported goods less, alcohol and tobacco | 117,1 | 117,6 | 0,7% | 0,2% |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 157,1 | 157,7 | 5,0% | 4,4% |
| Core index 2 (core index 1 less public services) | 158,0 | 158,7 | 5,1% | 4,2% |
| Groceries (perishable items) | 125,5 | 126,7 | -3,3% | -0,5% |
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