The Consumer Price Index based on prices in August 2014 is 423.1 points (May 1988=100), 0.24% higher than in July 2014. The CPI less housing cost is 397.4 points, 0.18% higher than in July.

Summer sales are winding down causing a 7.9% increase in prices of clothing and footwear (effect on the index 0.33%). International airfares decreased by 9.2% (-0.18%).

The CPI is 2.2% higher in August 2014 than in August 2013 and the CPI less housing cost is 1.2% higher than one year ago. Over the last three months, the CPI has increased by 0.4%, equivalent to an annual inflation rate of 1.7% (1.7% inflation for the CPI less housing cost).

The CPI compiled in the middle of August 2014, 423.1 points, is applicable for indexation purposes in October 2014. The old credit terms index for October 2014 is 8,354 points.

Consumer price index by economic categories 2014
Subindices March 1997=100 Change in the last 12 months
Effect on the index
  July August %
Consumer Price Index 236.5 237.1 2.2 2.2
Thereof:
Domestic goods and vegetables 211.8 212.1 0.3 0.0
Agricultural products 198.8 199.1 0.1 0.0
Domestic goods less agricultural products 221.1 221.5 0.5 0.0
Imported goods 198.5 199.4 -1.2 -0.4
Imported goods less, alcohol and tobacco 189.4 190.3 -1.6 -0.5
Groceries (perishable items) 208.5 208.9 -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
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
August 423.1 0.2 2.9 1.7 2.1 2.2

Percentage changes, not seasonally adjusted.

Statistics