The annual inflation rate in Iceland fell to 1.7 percent in January 2020 from 2 percent in the previous month. It was the lowest inflation rate since November 2017, as prices slowed for housing & utilities (2.1 percent vs 2.6 percent in December); recreation & culture (2.1 percent vs 2.8 percent); restaurants & hotels (1.8 percent vs 2.4 percent); furnishings & household equipment (2.1 percent vs 2.4 percent); education (2 percent vs 2.4 percent); and health (0.4 percent vs 1.7 percent). Meanwhile, cost advanced further for food & non-alcoholic beverages (1.3 percent vs 1.0 percent); transport (1.2 percent vs 0.5 percent); and miscellaneous goods & services (at 3.8 percent). On a monthly basis, consumer prices dropped 0.7 percent, after rising 0.1 percent in the prior month.
Inflation Rate in Iceland averaged 4.96 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.
Inflation Rate in Iceland is expected to be 2.00 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 2.20 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.30 percent in 2021, according to our econometric models.