The Consumer Price Index based on prices in September 2014 is 422.6 points (May 1988=100), 0.12% lower than in August 2014. The CPI less housing cost is 395.7 points, 0.43% lower than in August.
International airfares decreased by 28.9% (effect on the index -0.52%) but cost of owner occupied housing (imputed rent) rose by 1.4% (0.19%). Summer sales have now come to an end causing a 3.3% increase in prices of clothing and footwear (0.15%).
The CPI is 1.8% higher in September 2014 than in September 2013 and the CPI less housing cost is 0.4% higher than one year ago. Over the last three months, the CPI has decreased by 0.05%, equivalent to an annual deflation rate of 0.2% (1.9% deflation for the CPI less housing cost).
As of October 2014 a new model for measuring prices of telephone and internet services will be implemented in the CPI. The new model measures cost based on real charges of users instead of only changes in tariffs.
The CPI compiled in the middle of September 2014, 422.6 points, is applicable for indexation purposes in November 2014. The old credit terms index for November 2014 is 8,344 points.
| Consumer price index by economic categories 2014 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| August | September | % | ||
| Consumer Price Index | 237.1 | 236.8 | 1.8 | 1.8 |
| Thereof: | ||||
| Domestic goods and vegetables | 212.1 | 212.1 | 0.5 | 0.1 |
| Agricultural products | 199.1 | 198.9 | 0.4 | 0.0 |
| Domestic goods less agricultural products | 221.5 | 221.8 | 0.7 | 0.0 |
| Imported goods | 199.4 | 199.9 | -1.8 | -0.6 |
| Imported goods less, alcohol and tobacco | 190.3 | 190.9 | -2.2 | -0.7 |
| Groceries (perishable items) | 208.9 | 208.8 | -0.3 | -0.1 |
| The Icelandic consumer price index 2013-2014 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2013 | ||||||
| September | 415.2 | 0.3 | 4.1 | 1.7 | 2.2 | 3.9 |
| October | 415.2 | 0.0 | 0.0 | 2.7 | 1.8 | 3.6 |
| November | 416.7 | 0.4 | 4.4 | 2.8 | 2.6 | 3.7 |
| December | 418.9 | 0.5 | 6.5 | 3.6 | 2.6 | 4.2 |
| 2014 | ||||||
| January | 415.9 | -0.7 | -8.3 | 0.7 | 1.7 | 3.1 |
| February | 418.7 | 0.7 | 8.4 | 1.9 | 2.4 | 2.1 |
| March | 419.7 | 0.2 | 2.9 | 0.8 | 2.2 | 2.2 |
| April | 421.0 | 0.3 | 3.8 | 5.0 | 2.8 | 2.3 |
| May | 421.3 | 0.1 | 0.9 | 2.5 | 2.2 | 2.4 |
| June | 422.8 | 0.4 | 4.4 | 3.0 | 1.9 | 2.2 |
| July | 422.1 | -0.2 | -2.0 | 1.0 | 3.0 | 2.4 |
| August | 423.1 | 0.2 | 2.9 | 1.7 | 2.1 | 2.2 |
| September | 422.6 | -0.1 | -1.4 | -0.2 | 1.4 | 1.8 |
| Percentage changes, not seasonally adjusted. | ||||||
Statistics