The Consumer Price Index based on prices in May 2013 is 411.3 points (May 1988=100), 0.05% lower than in the previous month. The CPI less housing cost is 391.3 points, 0.18% lower than in April.
International airfares declined by 6.4% (effect on the index -0.10%).
A new reimbursement system for medicine was adopted on 4 May 2013. It is not possible yet to evaluate the effect of this system change.
Regulation no. 451/2013 took effect on 13 May 2013 increasing subsidies towards children’s dental costs. This change has been taken into account in the CPI in May. This caused a 3.1% decrease in dentistry prices (effect on the index -0.04%).
The CPI is 3.3% higher in May 2013 than in May 2012 and the CPI less housing cost is 3.4% higher than one year ago. Over the last three months, the CPI has increased by 0.3%, equivalent to an annual inflation rate of 1.4% (0.6% deflation for the CPI less housing cost).
The CPI compiled in the middle of May 2013, 411.3 points, is applicable for indexation purposes in July 2013. The old credit terms index for July 2013 is 8,121 points.
| Consumer price index by economic categories 2013 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| April | May | % | ||
| Consumer Price Index | 230.5 | 230.4 | 3.3 | 3.3 |
| Thereof: | ||||
| Domestic goods and vegetables | 209.5 | 209.4 | 5.7 | 0.8 |
| Agricultural products | 195.6 | 196.4 | 7.4 | 0.5 |
| Domestic goods less agricultural products | 219.9 | 218.9 | 4.2 | 0.3 |
| Imported goods | 203.4 | 202.1 | 0.8 | 0.3 |
| Imported goods less, alcohol and tobacco | 195.0 | 193.6 | 0.1 | 0.0 |
| Groceries (perishable items) | 208.9 | 208.3 | 5.0 | 0.8 |
| The Icelandic consumer price index 2012-2013 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2012 | ||||||
| May | 398.1 | 0.0 | -0.3 | 7.5 | 7.1 | 5.4 |
| June | 400.1 | 0.5 | 6.2 | 5.2 | 7.4 | 5.4 |
| July | 397.2 | -0.7 | -8.4 | -1.0 | 5.3 | 4.6 |
| August | 396.6 | -0.2 | -1.8 | -1.5 | 2.9 | 4.1 |
| September | 399.6 | 0.8 | 9.5 | -0.5 | 2.3 | 4.3 |
| October | 400.7 | 0.3 | 3.4 | 3.6 | 1.3 | 4.2 |
| November | 402.0 | 0.3 | 4.0 | 5.6 | 2.0 | 4.5 |
| December | 402.2 | 0.0 | 0.6 | 2.6 | 1.1 | 4.2 |
| 2013 | ||||||
| January | 403.3 | 0.3 | 3.3 | 2.6 | 3.1 | 4.2 |
| February | 409.9 | 1.6 | 21.5 | 8.1 | 6.8 | 4.8 |
| March | 410.7 | 0.2 | 2.4 | 8.7 | 5.6 | 3.9 |
| April | 411.5 | 0.2 | 2.4 | 8.4 | 5.5 | 3.3 |
| May | 411.3 | 0.0 | -0.6 | 1.4 | 4.7 | 3.3 |
| Percentage changes, not seasonally adjusted. | ||||||
Statistics