The Consumer Price Index based on prices in November 2014 is 421.0 points (May 1988=100), 0.52% lower than in October 2014. The CPI less housing cost is 393.4 points, 0.61% lower than in October.

International airfares declined by 17.3% (effect on the index -0.25%) and prices of petrol and diesel oil decreased by 2.6% (-0.10%).

The CPI is 1.0% higher in November 2014 than in November 2013 and the CPI less housing cost is 0.3% lower than one year ago. Over the last three months, the CPI has decreased by 0.5%, equivalent to an annual deflation rate of 2.0% (4.0% deflation for the CPI less housing cost).

The CPI compiled in the middle of November 2014, 421.0 points, is applicable for indexation purposes in January 2015. The old credit terms index for January 2015 is 8,313 points.

Consumer price index by economic categories 2014
Subindices March 1997=100 Change in the last 12 months
Effect on the index
  October November %
Consumer Price Index 237.1 235.9 1.0 1.0
Thereof:
Domestic goods and vegetables 211.7 211.1 -0.7 -0.1
Agricultural products 197.7 195.9 -2.2 -0.1
Domestic goods less agricultural products 222.3 223.0 0.8 0.1
Imported goods 199.2 198.1 -2.3 -0.8
Imported goods less, alcohol and tobacco 190.1 188.9 -2.8 -0.9
Groceries (perishable items) 208.6 207.9 -1.1 -0.2

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
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
October 423.2 0.1 1.7 1.0 1.0 1.9
November 421.0 -0.5 -6.1 -2.0 -0.1 1.0
Percentage changes, not seasonally adjusted.

Statistics