The annual inflation rate in Iceland advanced to 8.8 percent in June of 2022 from 7.6 percent in the previous month. It was the highest reading since October of 2009, as prices accelerated for housing and utilities (14.3 percent vs 12.5 percent), transportation (14.4 percent vs 12 percent), food and non-alcoholic beverages (7.3 percent vs 6.2 percent), and hotels and restaurants (7.7 percent vs 6.9 percent). Also, prices rebounded for clothing and footwear (0.6 percent vs -0.9 percent). On the other hand, prices decelerated for recreation and culture (2.3 percent vs 2.8 percent). On a monthly basis, consumer prices advanced 1.4 percent, the steepest increase since February of 2013, and picking up from a 0.8 percent rise in the prior month. source: Statistics Iceland
Inflation Rate in Iceland averaged 4.92 percent from 1989 until 2022, 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 July of 2022.
Inflation Rate in Iceland is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Inflation Rate is projected to trend around 2.70 percent in 2023, according to our econometric models.