The annual inflation rate in Iceland advanced to 5.1 percent in December of 2021 from 4.8 percent in the previous month. It was the highest reading since June of 2012, amid rising prices of housing and utilities (9.3 percent vs 9 percent in November), transportation (7.2 percent vs 6.7 percent) and food and non-alcoholic beverages (2.9 percent vs 1.7 percent). Meanwhile, inflation was steady for hotels, cafes, and restaurants (at 4.5 percent) and alcoholic beverages and tobacco (at 2.5 percent). On the other hand, prices slowed for clothing and footwear (1.4 percent vs 2.6 percent), healthcare (1.5 percent vs 1.7 percent) and furnishing and household equipment (0.2 percent vs 1.2 percent). On a monthly basis, consumer prices advanced 0.45 percent, edging up from a 0.4 percent uptick in the prior month. source: Statistics Iceland

Inflation Rate in Iceland averaged 4.89 percent from 1989 until 2021, 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 2022.

Inflation Rate in Iceland is expected to be 5.30 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 2.30 percent in 2022 and 2.70 percent in 2023, according to our econometric models.

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Iceland Inflation Rate


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
5.10 4.80 25.20 -0.06 1989 - 2021 percent Monthly
Jan 2008=100

Calendar GMT Actual Previous Consensus TEForecast
2021-11-25 09:00 AM Nov 4.8% 4.5% 4.7%
2021-12-21 09:00 AM Dec 5.1% 4.8% 5%
2022-01-28 09:00 AM Jan 5.1% 5%


Related Last Previous Unit Reference
Inflation Rate 5.10 4.80 percent Dec/21
Consumer Price Index CPI 513.00 511.20 points Nov/21
Core Inflation Rate 4.70 4.50 percent Dec/21
Core Consumer Prices 288.80 287.40 points Dec/21
GDP Deflator 114.59 110.77 points Dec/20
Producer Prices 276.00 266.90 points Nov/21
Inflation Rate Mom 0.45 0.40 percent Dec/21
CPI Transportation 170.75 168.99 points Dec/21
CPI Housing Utilities 516.50 513.40 points Dec/21
Food Inflation 1.70 1.30 percent Nov/21
Producer Prices Change 21.00 17.30 percent Nov/21


News Stream
Iceland Inflation Rate at 9-1/2-Year High
The annual inflation rate in Iceland advanced to 5.1 percent in December of 2021 from 4.8 percent in the previous month. It was the highest reading since June of 2012, amid rising prices of housing and utilities (9.3 percent vs 9 percent in November), transportation (7.2 percent vs 6.7 percent) and food and non-alcoholic beverages (2.9 percent vs 1.7 percent). Meanwhile, inflation was steady for hotels, cafes, and restaurants (at 4.5 percent) and alcoholic beverages and tobacco (at 2.5 percent). On the other hand, prices slowed for clothing and footwear (1.4 percent vs 2.6 percent), healthcare (1.5 percent vs 1.7 percent) and furnishing and household equipment (0.2 percent vs 1.2 percent). On a monthly basis, consumer prices advanced 0.45 percent, edging up from a 0.4 percent uptick in the prior month.
2021-12-21
Iceland Inflation Rate at Over 9-Year High
The annual inflation rate in Iceland advanced to 4.8 percent in November of 2021 from 4.5 percent in the previous month. It was the highest reading since June of 2012, driven by increasing prices for housing and utilities (9 percent vs 8.1 percent in October), transportation (6.7 percent vs 6.2 percent), and food and non-alcoholic beverages (1.7 percent vs 1.3 percent). Consumer prices also accelerated for hotels, cafes, and restaurants (4.5 percent vs 4.3 percent) and clothing and footwear (2.6 percent vs 1.9 percent). On the other hand, inflation slowed for furnishing and household equipment (1.2 percent vs 1.5 percent), and healthcare (1.7 percent vs 2.2 percent). On a monthly basis, consumer prices advanced 0.4 percent, easing from a 0.6 percent gain in the prior month.
2021-11-25
Iceland October Inflation Rate Edges up to 4.5%
The annual inflation rate in Iceland ticked up to 4.5 percent in October of 2021, from 4.4 percent in the previous month, mainly driven by prices of housing & utilities (8.1 percent vs 7.6 percent in September) and transport (6.2 percent vs 5.9 percent). Inflation was also higher for furnishings & household equipment (1.5 percent vs 0.5 percent); health (2.2 percent vs 2.1 percent); and alcoholic beverages & tobacco (2.7 percent vs 2.6 percent). On the other hand, prices rose at a softer pace for food & beverages (1.3 percent vs 1.9 percent) and clothing & footwear (1.9 percent vs 2.4 percent). On a monthly basis, consumer prices advanced 0.6 percent, following a 0.5 percent gain in the prior month.
2021-10-27