The Consumer Price Index (CPI) based on prices in December 2014 is 422.3 points (May 1988=100), 0.31% higher than in November 2014. The CPI less housing cost is 394.3 points, 0.23% higher than in November.
International airfares increased by 14.3% (effect on CPI index 0.17%), cost of housing, water and electricity increased by 0.5% (0.13%) and prices of petrol and diesel oil decreased by 2.4% (-0.10%).
The CPI is 0,8% higher in December 2014 than in December 2013 while the CPI less housing cost is 0.4% lower than one year ago. Over the last three months, the CPI has decreased by 0.1%, equivalent to an annual deflation rate of 0.3% (1.4% annual deflation rate for the CPI less housing cost).
The average CPI in the year 2014 was 421.1 points, 2.0% higher than the average in 2013. This increase corresponds to a 3.9% rise in 2013 and 5.2% in 2012.
The average CPI less housing cost was 395.4 points in 2014, 0.8% higher than in 2013. This change can be compared to a 3.8% rise in the year 2013 and 5.3% in 2012.
The CPI compiled in the middle of December 2014, 422.3 points, is applicable for indexation purposes in February 2015. The old credit terms index for February 2015 is 8,338 points.
| Consumer price index by economic categories 2014 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| November | December | % | ||
| Consumer Price Index | 235.9 | 236.6 | 0.8 | 0.8 |
| Thereof: | ||||
| Domestic goods and vegetables | 211.1 | 211.6 | -0.8 | -0.1 |
| Agricultural products | 195.9 | 197.0 | -2.3 | -0.1 |
| Domestic goods less agricultural products | 223.0 | 222.8 | 0.6 | 0.0 |
| Imported goods | 198.1 | 197.4 | -2.8 | -1.0 |
| Imported goods less, alcohol and tobacco | 188.9 | 188.2 | -3.4 | -1.1 |
| Groceries (perishable items) | 207.9 | 208.5 | -1.2 | -0.2 |
| 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 | ||||||
| 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 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||
Statistics