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. | ||||||