The Consumer Price Index (CPI) based on prices in February 2015 is 422.1 points (May 1988=100), 0.67% higher than in January 2015. The CPI less housing cost is 391.4 points, 0.57% higher than in January.

Winter sales are coming to a close causing an increase in prices of clothing and footwear by 5.8% (effect on the index 0.24%). Cost of owner occupied housing (imputed rent) rose by 1.24% (0.18%) and costs associated with operation of personal transport equipment rose by 1.4% (0.11%). International airfares declined by 8.7% (-0.12%) and prices of food and non-alcoholic beverages declined by 0.7% (-0.11%).

The CPI is 0.8% higher in February 2015 than in February 2014 while the CPI less housing cost is 0.9% lower than one year ago. Over the last three months, the CPI has increased by 0.3%, equivalent to an annual inflation rate of 1.0% (2.0% annual deflation rate for the CPI less housing cost).


The CPI compiled in the middle of February 2015, 422.1 points, is applicable for indexation purposes in April 2015. The old credit terms index for April 2015 is 8,334 points.

Consumer price index by economic categories 2015
Subindices March 1997=100     Change in the last 12 months
     
        Effect on the index
  January February %
         
Consumer Price Index 234.9 236.5 0.8 0.8
Thereof:        
Domestic goods and vegetables 217.7 216.9 2.1 0.3
Agricultural products 205.3 204.3 1.9 0.1
Domestic goods less agricultural products 226.3 225.8 2.2 0.1
Imported goods 188.3 190.8 -5.3 -1.8
Imported goods less, alcohol and tobacco 178.7 181.3 -5.8 -1.8
Groceries (perishable items) 213.3 212.0 0.8 0.1
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            
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
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
Percentage changes, not seasonally adjusted.  

Statistics