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