The Consumer Price Index (CPI) based on prices in March 2015 is 426.4 points (May 1988=100), 1.02% higher than in February 2015. The CPI less housing cost is 395.4 points, 1.02% higher than in February.

Winter sales have come to an end and prices of clothing and footwear rose by 9.1% (effect on the index 0.39%). Cost of owner occupied housing (imputed rent) rose by 1.6% (0.24%) and prices of petrol and diesel oil increased by 5.8% (0.20%). International airfares rose by 8.8% (0.11%).

The CPI is 1.6% higher in March 2015 than in March 2014 while the CPI less housing cost is 0.1% lower than one year ago. Over the last three months, the CPI has increased by 1.0%, equivalent to an annual inflation rate of 3.9% (1.1% annual inflation rate for the CPI less housing cost).

The CPI compiled in the middle of March 2015, 426.4 points, is applicable for indexation purposes in May 2015. The old credit terms index for May 2015 is 8,419 points.

Consumer price index by economic categories 2015
Subindices March 1997=100     Change in the last 12 months
     
        Effect on the index
  February March %
         
Consumer Price Index 236.5 238.9 1.6 1.6
Thereof:        
Domestic goods and vegetables 216.9 216.9 2.1 0.3
Agricultural products 204.3 204.0 2.2 0.1
Domestic goods less agricultural products 225.8 226.2 2.1 0.1
Imported goods 190.8 194.6 -3.6 -1.2
Imported goods less, alcohol and tobacco 181.3 185.3 -4.0 -1.2
Groceries (perishable items) 212.0 211.8 0.9 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            
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
March 426.4 1.0 12.9 3.9 1.8 1.6
Note: Percentage changes, not seasonally adjusted.        

Statistics