The Consumer Price Index based on prices in May 2014 is 421.3 points (May 1988=100), 0.07% higher than in April 2014. The CPI less housing cost is 395.7 points, 0.08% lower than in April.

Cost of airfares declined by 8.1% (effect on the index (-0.15%) and cost of owner occupied housing (imputed rent) rose by 0.9% (0.12%).

The CPI is 2.4% higher in May 2014 than in May 2013 and the CPI less housing cost is 1.1% higher than one year ago. Over the last three months, the CPI has increased by 0.6%, equivalent to an annual inflation rate of 2.5% (0.8% inflation for the CPI less housing cost).

The CPI compiled in the middle of May 2014, 421.3 points, is applicable for indexation purposes in July 2014. The old credit terms index for July 2014 is 8,319 points.

Consumer price index by economic categories 2014
Subindices March 1997=100 Change in the last 12 months
Effect on the index
  April May %
Consumer Price Index 235.9 236.1 2.4 2.4
Thereof:
Domestic goods and vegetables 211.8 211.7 1.1 0.1
Agricultural products 198.9 198.2 0.9 0.1
Domestic goods less agricultural products 221.3 221.8 1.4 0.1
Imported goods 201.9 202.1 0.0 0.0
Imported goods less, alcohol and tobacco 192.9 193.2 -0.3 -0.1
Groceries (perishable items) 208.6 209.0 0.4 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
May 411.3 0.0 -0.6 1.4 4.7 3.3
June 413.5 0.5 6.6 2.8 5.7 3.3
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
Percentage changes, not seasonally adjusted.

Statistics