The Consumer Price Index (CPI) based on prices in July 2015 is 430.0 points (May 1988=100), 0.16% higher than in June 2015. The CPI less housing cost is 398.3 points, 0.03% higher than in June.
Summer sales are widely in action causing a decrease in prices of clothing and footwear by 11.6% (effect on the index -0.5 %). Prices of international airfares rose by 32.7% (0.45%) and cost of owner occupied housing rose by 0.8% (0.12%).
The CPI is 1.9% higher in July 2015 than in July 2014 while the CPI less housing cost is 0.4% higher than one year ago.
The CPI compiled in the middle of July 2015, 430.0 points, is applicable for indexation purposes in September 2015. The old credit terms index for September 2015 is 8,490 points.
| Consumer price index by economic categories 2015 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| June | July | % | ||
| Consumer Price Index | 240.5 | 240.9 | 1.9 | 1.9 |
| Thereof: | ||||
| Domestic goods and vegetables | 217.4 | 218.4 | 3.1 | 0.4 |
| Agricultural products | 204.7 | 205.3 | 3.2 | 0.2 |
| Domestic goods less agricultural products | 226.3 | 227.7 | 3.0 | 0.2 |
| Imported goods | 196.1 | 192.7 | -2.9 | -1.0 |
| Imported goods less, alcohol and tobacco | 186.8 | 183.3 | -3.2 | -1.0 |
| Groceries (perishable items) | 213.2 | 214.0 | 2.7 | 0.4 |
| The Icelandic consumer price index 2014-2015 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2014 | ||||||
| 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 |
| December | 422.3 | 0.3 | 3.8 | -0.3 | -0.2 | 0.8 |
| 2015 | ||||||
| January | 419.3 | -0.7 | -8.2 | -3.6 | -1.3 | 0.8 |
| February | 422.1 | 0.7 | 8.3 | 1.0 | -0.5 | 0.8 |
| March | 426.4 | 1.0 | 12.9 | 3.9 | 1.8 | 1.6 |
| April | 427.0 | 0.1 | 1.7 | 7.6 | 1.8 | 1.4 |
| May | 428.2 | 0.3 | 3.4 | 5.9 | 3.4 | 1.6 |
| June | 429.3 | 0.3 | 3.1 | 2.7 | 3.3 | 1.5 |
| July | 430.0 | 0.2 | 2.0 | 2.8 | 5.2 | 1.9 |
| Percentage changes, not seasonally adjusted. | ||||||