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. | ||||||