The Consumer Price Index based on prices in January is 403.3 points (May 1988=100), 0.27% higher than in the previous month. The CPI less housing cost is 384.1 points, 0.21% higher than in December.

Winter sales led to a 14.1% decrease of clothing and footwear (effect on the index -0.77%) and prices of furniture and household equipment decreased by 2.4% (-0.13%).

Prices of tobacco increased by 17.9% (0.23%), thereof the effect of an increase in special duties was 0.12%. Fees for public services rose by 2.6% (0.21%), of which fees for refuse collection, sewerage services and water supply rose by 7.3% (0.13%). Prices of new cars increased by 2.9% (0.16%), grocery prices by 0.9% (0.16%) and airfares by 6.6% (0.12%). Prices for recreational and cultural services and lotteries rose by 3.2% (0.11%).

The CPI is 4.2% higher in January 2013 than in January 2012 and the CPI less housing cost is 5.0% higher than one year ago. Over the last three months, the CPI has increased by 0.6%, equivalent to an annual inflation rate of 2.6% (2.1% inflation for the CPI less housing cost).

The CPI compiled in the middle of January 2013, 403.3 points, is applicable for indexation purposes in March 2013. The old credit terms index for March 2013 is 7,963 points.

Consumer price index by economic categories 2012-2013
Subindices March 1997=100 Change in the last 12 months
Effect on the index
  December January %
Consumer Price Index 225.3 226.0 4.2 4.2
Thereof:
Domestic goods and vegetables 204.7 206.1 5.7 0.8
Agricultural products 190.9 192.2 5.6 0.3
Domestic goods less agricultural products 215.0 216.6 5.9 0.4
Imported goods 200.8 198.4 3.2 1.2
Imported goods less, alcohol and tobacco 193.7 189.8 2.7 0.9
Groceries (perishable items) 203.3 205.2 5.0 0.8

The Icelandic consumer price index 2012-2013
May 1988 = 100 Annualized rates
Monthly index Monthly changes Latest month Latest 3 months Latest 6 months Latest 12 months
 
2012
January 387.1 0.3 3.5 2.6 3.8 6.5
February 391.0 1.0 12.8 6.8 5.4 6.3
March 395.1 1.0 13.3 9.8 6.3 6.4
April 398.2 0.8 9.8 12.0 7.2 6.4
May 398.1 0.0 -0.3 7.5 7.1 5.4
June 400.1 0.5 6.2 5.2 7.4 5.4
July 397.2 -0.7 -8.4 -1.0 5.3 4.6
August 396.6 -0.2 -1.8 -1.5 2.9 4.1
September 399.6 0.8 9.5 -0.5 2.3 4.3
October 400.7 0.3 3.4 3.6 1.3 4.2
November 402.0 0.3 4.0 5.6 2.0 4.5
December 402.2 0.0 0.6 2.6 1.1 4.2
2013
January 403.3 0.3 3.3 2.6 3.1 4.2
Percentage changes, not seasonally adjusted.

Statistics