The annual inflation rate in Iceland increased to 3.3 percent in November 2018, up from a 2.8 percent rise in the prior month. it is the third straight rise in the consumer price index and the steepest since December 2013, mainly due to rising prices of transport (4.2% vs 3.1% in October). Also, inflation remained elevated for housing & utilities (4.9% vs 5.0%) and food & non-alcoholic beverages (4.1%, the same as in October). Additional upward pressure came from prices of: recreation & culture (0.8% vs 0.3%); miscellaneous goods & services (1.9% vs 1.7%); hotels, cafes & restaurants (3.1 percent vs 2.2 percent); furniture & household equipment (2.7% vs 0.8%); health (1.4% vs 0.8%); clothing & footwear (2.0% vs -2.1%) and alcoholic beverages & tobacco (3.1% vs 3.0%). On a monthly basis, consumer prices edged up 0.2 percent, after increasing 0.6 percent in the previous month Inflation Rate in Iceland averaged 5.04 percent from 1989 until 2018, 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 2.90 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 3.40 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.70 percent in 2020, according to our econometric models.

Iceland Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-30 09:00 AM Inflation Rate YoY 2.6% 2.7% 2.8%
2018-09-27 09:00 AM Inflation Rate YoY 2.7% 2.6% 2.7%
2018-10-29 09:00 AM Inflation Rate YoY 2.8% 2.7% 2.9%
2018-11-29 09:00 AM Inflation Rate YoY 3.3% 2.8% 2.8%
2018-12-20 09:00 AM Inflation Rate YoY 3.3% 2.9%
2019-01-29 09:00 AM Inflation Rate YoY
2019-02-27 09:00 AM Inflation Rate YoY


Iceland Prices Last Previous Highest Lowest Unit
Inflation Rate 3.30 2.80 25.20 -0.06 percent [+]
Consumer Price Index CPI 460.50 459.40 460.50 4.00 Index Points [+]
Harmonised Consumer Prices 100.10 99.90 102.90 42.80 Index Points [+]
Core Consumer Prices 258.50 257.50 258.50 100.00 Index Points [+]
Core Inflation Rate 2.30 2.10 18.16 1.09 percent [+]
GDP Deflator 180.35 179.66 180.35 3.24 Index Points [+]
Producer Prices 209.10 202.50 224.80 99.80 Index Points [+]
Export Prices 187.47 194.44 221.28 0.03 Index Points [+]
Import Prices 197.40 208.16 262.20 0.04 Index Points [+]
Producer Prices Change 8.40 5.50 68.50 -12.40 percent [+]
Inflation Rate Mom 0.20 0.60 10.40 -1.50 percent [+]
Food Inflation 4.10 4.10 31.18 -6.45 percent [+]
CPI Housing Utilities 449.00 447.40 449.00 94.00 Index Points [+]
CPI Transportation 153.38 153.84 183.10 100.30 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.30 2.80 25.20 -0.06 1989 - 2018 percent Monthly
Jan 2008=100




Country Last Previous
Argentina 45.50 Oct/18
Australia 1.90 Sep/18
Brazil 4.05 Nov/18
Canada 2.40 Oct/18
China 2.20 Nov/18
Euro Area 2.00 Nov/18
France 1.90 Nov/18
Germany 2.30 Nov/18
India 2.33 Nov/18
Indonesia 3.23 Nov/18
Italy 1.60 Nov/18
Japan 1.40 Oct/18
Mexico 4.72 Nov/18
Netherlands 2.00 Nov/18
Russia 3.80 Nov/18
Saudi Arabia 2.40 Oct/18
Singapore 0.70 Oct/18
South Africa 5.20 Nov/18
South Korea 2.00 Nov/18
Spain 1.70 Nov/18
Switzerland 0.90 Nov/18
Turkey 21.62 Nov/18
United Kingdom 2.40 Oct/18
United States 2.20 Nov/18


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