The annual inflation rate in Iceland rose to 3.6 percent in December of 2020 from 3.5 percent in the previous month. Prices advanced faster for food & non-alcoholic beverages (6.9 percent vs 6.8 percent in November); housing & utilities (2.4 percent vs 1.7 percent); clothing & footwear (3 percent vs 2.2 percent); recreation & culture (4.3 percent vs 3.9 percent) and health (4.8 percent vs 4.7 percent). On the other hand, cost slowed for transport (2.2 percent vs 2.6 percent); miscellaneous goods & services (3.8 percent vs 3.9 percent); hotels & restaurant (1.4 percent vs 1.6 percent); furniture & household goods (8.2 percent vs 9.7 percent) and alcoholic beverages (4.2 percent vs 4.5 percent). On a monthly basis, consumer prices went up 0.2 percent, after showing no growth in November. source: Statistics Iceland
Inflation Rate in Iceland averaged 4.90 percent from 1989 until 2020, 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. This page provides - Iceland Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Inflation Rate in Iceland is expected to be 3.20 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 2.50 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.80 percent in 2021 and 2.30 percent in 2022, according to our econometric models.