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.

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Iceland Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-30 09:00 AM May 7.6% 7.2% 7.3%
2022-06-29 09:00 AM Jun 8.8% 7.6% 8%
2022-07-22 09:00 AM Jul


Related Last Previous Unit Reference
Inflation Rate 8.80 7.60 percent Jun 2022
Consumer Price Index CPI 539.50 535.40 points May 2022
Core Inflation Rate 7.68 6.90 percent Jun 2022
Core Consumer Prices 304.10 300.90 points Jun 2022
GDP Deflator 121.25 114.60 points Dec 2021
Producer Prices 299.20 301.50 points May 2022
CPI Transportation 185.55 179.72 points Jun 2022
CPI Housing Utilities 564.10 552.70 points Jun 2022
Inflation Rate Mom 1.40 0.80 percent Jun 2022
Producer Prices Change 27.20 29.60 percent May 2022
Food Inflation 6.20 5.20 percent May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
8.80 7.60 25.20 -0.06 1989 - 2022 percent Monthly
Jan 2008=100

News Stream
Iceland Inflation Rate at Over 12-1/2-Year High
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.
2022-06-29
Iceland Inflation Rate Close to 12-Year High
The annual inflation rate in Iceland advanced to 7.2 percent in April of 2022 from 6.7 percent in the previous month. It was the highest reading May of 2010, as prices accelerated for housing and utilities (11.6 percent vs 11.3 percent in March), transportation (11.3 percent vs 8 percent), food and non-alcoholic beverages (5.2 percent vs 5 percent), and hotels and restaurants (5.8 percent vs 5.2 percent). On the other hand, prices decelerated for recreation and culture (3 percent vs 3.6 percent). On a monthly basis, consumer prices advanced 1.3 percent, the steepest increase since 2013, and picking up from a 0.9 percent rise in the prior month.
2022-05-04
Iceland March Inflation Rate Close to 12-Year High
The annual inflation rate in Iceland advanced to 6.7 percent in March of 2022 from 6.2 percent in the previous month. It was the highest reading since May of 2010, driven by prices of housing and utilities (11.3 percent vs 10.7 percent in February), food and non-alcoholic beverages (5 percent vs 4.4 percent), and transportation (8 percent vs 7.2 percent). Additional upward pressure came from a rebound for prices in clothing and footwear (0.4 percent vs -2.4 percent) On the other hand, inflation slowed for furnishing and household equipment (4.7 percent vs 5.2 percent) and hotels, cafes, and restaurants (5.2 percent vs 5.6 percent). On a monthly basis, consumer prices advanced 0.9 percent, easing from the 1.2 percent increase in the prior month.
2022-03-29