The Consumer Price Index based on prices in February 2014 is 418.7 points (May 1988=100), 0.67% higher than in January 2014. The CPI less housing cost is 394.9 points, 0.87% higher than in January.

Winter sales are coming to a close causing an increase in prices of clothing and footwear by 7.1% (effect on the index 0.33%), International airfares rose by 11.0% (0.14%) but prices of groceries declined by 0.6% (-0.11%).

The CPI is 2.1% higher in February 2014 than in February 2013 and the CPI less housing cost is 0.8% higher than one year ago. Over the last three months, the CPI has increased by 0.5%, equivalent to an annual inflation rate of 1.9% (0.4% inflation for the CPI less housing cost).

The CPI compiled in the middle of February 2014, 418.7 points, is applicable for indexation purposes in April 2014. The old credit terms index for April 2014 is 8,267 points.

Consumer price index by economic categories 2014
Subindices March 1997=100 Change in the last 12 months
Effect on the index
  January February %
Consumer Price Index 233.0 234.6 2.1 2.1
Thereof:
Domestic goods and vegetables 213.9 212.5 2.7 0.4
Agricultural products 203.2 200.4 4.4 0.3
Domestic goods less agricultural products 221.0 221.0 1.1 0.1
Imported goods 198.2 201.5 -2.1 -0.8
Imported goods less, alcohol and tobacco 189.2 192.5 -2.6 -0.8
Groceries (perishable items) 211.6 210.3 1.6 0.3

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
February 409.9 1.6 21.5 8.1 6.8 4.8
March 410.7 0.2 2.4 8.7 5.6 3.9
April 411.5 0.2 2.4 8.4 5.5 3.3
May 411.3 0.0 -0.6 1.4 4.7 3.3
June 413.5 0.5 6.6 2.8 5.7 3.3
July 412.4 -0.3 -3.1 0.9 4.6 3.8
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
Percentage changes, not seasonally adjusted.

Statistics