The Consumer Price Index (CPI) based on prices in October 2019 is 472.2 points (May 1988=100), 0.36% higher than in the previous month. The CPI less housing cost is 402.9 points, 0.22% higher than in September 2019.
Cost of owner-occupied housing (imputed rent) rose by 1.0% (effect on index 0.17%).
The CPI is 2.8% higher in October 2019 than in October 2018 while the CPI less housing cost is 2.6% higher than one year ago.
The CPI compiled in the middle of October 2019, 472.2 points, is applicable for indexation purposes in December 2019. The old credit terms index for December 2019 is 9,324 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 | ||||||
| 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 |
| August | 470.1 | 0.3 | 3.4 | 1.8 | 3.1 | 3.2 |
| September | 470.5 | 0.1 | 1.0 | 0.6 | 2.2 | 3.0 |
| October | 472.2 | 0.4 | 4.4 | 2.9 | 2.2 | 2.8 |
| Percentage changes, not seasonally adjusted. | ||||||
Statistics Iceland has reviewed weights for interest rates used in the compilation of imputed rent for owner-occupied housing. This is in accordance with a notification in the CPI release on 27 September 2019.
New weights are implemented for various groups of lenders and for the rate of return on own equity. Reviewing the composition of the index categories does not in itself result in a price change in the CPI since the compilation of price changes is always based on a fixed composition between months. Weights are reviewed in order to better reflect the composition of index categories.