The annual inflation rate in Iceland rose to 4.3 percent in January of 2021 from 3.6 percent in the prior month. It was the highest inflation rate since August of 2013, pushed up by prices of furnishings (10.2 percent vs 8.2 percent in December); clothing & footwear (8.1 percent vs 3 percent); food & non-alcoholic beverages (6.6 percent vs 6.9 percent); recreation & culture (4.7 percent vs 4.3 percent); health (4.7 percent vs 4.8 percent); housing & utilities (3.1 percent vs 2.4 percent) and transport (3.1 percent vs 2.2 percent). On a monthly basis, consumer prices went down 0.1 percent, after increasing 0.2 percent in the previous month. source: Statistics Iceland
Inflation Rate in Iceland averaged 4.90 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 2021.
Inflation Rate in Iceland is expected to be 2.30 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 2.80 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.80 percent in 2022 and 2.30 percent in 2023, according to our econometric models.