The Consumer Price Index based on prices in July 2014 is 422.1 points (May 1988=100), 0.17% lower than in June 2014. The CPI less housing cost is 396.7 points, 0.23% lower than in June.
Summer sales are ongoing causing an 11.6% decrease in clothing and footwear prices (effect on the index -0.55%). International airfares increased by 17% (0.29%).
The CPI is 2.4% higher in July 2014 than in July 2013 and the CPI less housing cost is 1.4% higher than one year ago. Over the last three months, the CPI has increased by 0.3%, equivalent to an annual inflation rate of 1.0% (0.7% inflation for the CPI less housing cost).
The CPI compiled in the middle of July 2014, 422.1 points, is applicable for indexation purposes in September 2014. The old credit terms index for September 2014 is 8,334 points.
| Consumer price index by economic categories 2014 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| June | July | % | ||
| Consumer Price Index | 236.9 | 236.5 | 2.4 | 2.4 |
| Thereof: | ||||
| Domestic goods and vegetables | 211.5 | 211.8 | 0.6 | 0.1 |
| Agricultural products | 198.5 | 198.8 | 0.7 | 0.0 |
| Domestic goods less agricultural products | 221.0 | 221.1 | 0.5 | 0.0 |
| Imported goods | 202.0 | 198.5 | -0.8 | -0.3 |
| Imported goods less, alcohol and tobacco | 193.0 | 189.4 | -1.2 | -0.4 |
| Groceries (perishable items) | 208.6 | 208.5 | -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 | ||||||
| July | 412.4 | -0.3 | -3.1 | 0.9 | 4.6 | 3.8 |
| August | 413.8 | 0.3 | 4.2 | 2.5 | 1.9 | 4.3 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||
Statistics