The annual inflation rate in Iceland rose to 3.2 percent in August of 2019 from 3.1 percent in the prior month. Prices increased faster for food & non-alcoholic beverages (3.2 percent vs 3.0 percent in July); recreation & culture (3.0 percent vs 2.7 percent); restaurants & hotels (2.7 percent vs 2.6 percent); furniture & household equipment (4.5 percent vs 0.7 percent); clothing & footwear (7.7 percent vs 2.3 percent) and alcoholic beverages & tobacco (2.6 percent vs 2.0 percent). In addition, prices dropped at a softer pace for education (-0.8 percent vs -1.1 percent) and communication (-2.0 percent vs -2.8 percent). On the other hand, cost slowed for housing & utilities (3.0 percent vs 3.4 percent); transport (3.2 percent vs 4.1 percent); miscellaneous goods & services (3.5 percent vs 4.2 percent). On a monthly basis, consumer prices increased 0.3 percent, rebounding from a 0.2 percent drop in the previous month. Inflation Rate in Iceland averaged 4.99 percent from 1989 until 2019, reaching an all time high of 25.20 percent in December of 1989 and a record low of -0.06 percent in November of 1994.

Inflation Rate in Iceland is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Iceland to stand at 2.70 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.

Iceland Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-28 09:00 AM Inflation Rate YoY May 3.6% 3.3% 3.4%
2019-06-26 09:00 AM Inflation Rate YoY Jun 3.3% 3.6% 3.3%
2019-07-22 09:00 AM Inflation Rate YoY Jul 3.1% 3.3% 3.2%
2019-08-29 09:00 AM Inflation Rate YoY Aug 3.2% 3.1% 3.2%
2019-09-27 09:00 AM Inflation Rate YoY Sep 3.2% 3.3%
2019-10-28 09:00 AM Inflation Rate YoY Oct 3.2%
2019-11-27 09:00 AM Inflation Rate YoY Nov 3.1%


Iceland Prices Last Previous Highest Lowest Unit
Inflation Rate 3.20 3.10 25.20 -0.06 percent [+]
Consumer Price Index CPI 470.10 468.80 470.10 4.00 Index Points [+]
Harmonised Consumer Prices 104.10 104.50 104.50 42.80 Index Points [+]
Core Consumer Prices 263.80 262.70 263.80 100.00 Index Points [+]
Core Inflation Rate 3.00 2.70 18.16 1.09 percent [+]
GDP Deflator 187.39 182.52 187.39 3.24 Index Points [+]
Producer Prices 213.00 215.20 224.80 99.80 Index Points [+]
Export Prices 202.40 187.47 221.28 0.03 Index Points [+]
Import Prices 221.68 197.40 262.20 0.04 Index Points [+]
Producer Prices Change 5.90 6.70 68.50 -12.40 percent [+]
Inflation Rate Mom 0.30 -0.20 10.40 -1.50 percent [+]
Food Inflation 4.50 5.50 31.18 -6.45 percent [+]
CPI Housing Utilities 457.90 457.90 457.90 94.00 Index Points [+]
CPI Transportation 158.79 161.09 183.10 100.30 Index Points [+]


Iceland Inflation Rate

In Iceland, the most important category in the consumer price index is Housing and Utilities (29.3 percent of total weight). Transport accounts for 14.9 percent; Food and Non-Alcoholic Beverages for 14.7 percent; Recreation and Culture for 10.3 percent; Miscellaneous Goods and Services for 6.2 percent and Restaurants and Hotels for 5.4 percent. Furniture, Household Goods and Maintenance; Health; Clothing and Footwear; Alcoholic beverages and Tobacco; Communication and Education account for the remaining 19.2 percent of total weight. This page provides - Iceland Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Inflation Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.20 3.10 25.20 -0.06 1989 - 2019 percent Monthly
Jan 2008=100




Country Last Previous
Argentina 53.60 Aug/19
Australia 1.60 Jun/19
Brazil 3.43 Aug/19
Canada 1.90 Aug/19
China 2.80 Aug/19
Euro Area 1.00 Aug/19
France 1.00 Aug/19
Germany 1.40 Aug/19
India 3.21 Aug/19
Indonesia 3.49 Aug/19
Italy 0.40 Aug/19
Japan 0.50 Jul/19
Mexico 3.16 Aug/19
Netherlands 2.80 Aug/19
Russia 4.30 Aug/19
Saudi Arabia -1.30 Jul/19
Singapore 0.40 Jul/19
South Africa 4.30 Aug/19
South Korea 0.00 Aug/19
Spain 0.30 Aug/19
Switzerland 0.30 Aug/19
Turkey 15.01 Aug/19
United Kingdom 1.70 Aug/19
United States 1.70 Aug/19


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