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.

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Iceland Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.30 3.60 25.20 -0.06 1989 - 2021 percent Monthly
Jan 2008=100


Calendar GMT Actual Previous Consensus TEForecast
2020-10-29 09:00 AM Oct 3.6% 3.5% 3.3%
2020-11-27 09:00 AM Nov 3.5% 3.6% 3.4%
2020-12-22 09:00 AM Dec 3.6% 3.5% 3.2%
2021-01-26 09:00 AM Jan 4.3% 3.6% 3.4%
2021-02-25 09:00 AM Feb 4.3%
2021-03-25 09:00 AM Mar
2021-04-29 09:00 AM Apr
2021-05-27 09:00 AM May
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Iceland January Inflation Rate at Near 7-1/2-Year High
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.
2021-01-26
Iceland Inflation Rate Rises to 3.6% in December
The annual inflation rate in Iceland rose to 3.6 percent in December of 2020 from 3.5 percent in the previous month. Prices advanced faster for food & non-alcoholic beverages (6.9 percent vs 6.8 percent in November); housing & utilities (2.4 percent vs 1.7 percent); clothing & footwear (3 percent vs 2.2 percent); recreation & culture (4.3 percent vs 3.9 percent) and health (4.8 percent vs 4.7 percent). On the other hand, cost slowed for transport (2.2 percent vs 2.6 percent); miscellaneous goods & services (3.8 percent vs 3.9 percent); hotels & restaurant (1.4 percent vs 1.6 percent); furniture & household goods (8.2 percent vs 9.7 percent) and alcoholic beverages (4.2 percent vs 4.5 percent). On a monthly basis, consumer prices went up 0.2 percent, after showing no growth in November.
2020-12-22
Iceland Inflation Rate Eases to 3.5% in November
The annual inflation rate in Iceland fell to 3.5 percent in November of 2020 from 3.6 percent in the previous month. Prices slowed for food & non-alcoholic beverages (6.8 percent vs 7.4 percent in October); housing & utilities (1.7 percent vs 2.3 percent); miscellaneous goods & services (3.9 percent vs 4.4 percent); furnishings & household equipment (9.7 percent vs 9.9 percent); and clothing & footwear (2.2 percent vs 3 percent). In addition, cost of communications fell at a faster pace (-5.1 percent vs -3.8 percent). On the other hand, prices increased further for transport (2.6 percent vs 1.3 percent); hotels & restaurants (1.6 percent vs 1.3 percent); and health (4.7 percent vs 4.3 percent). On a monthly basis, consumer prices were unchanged, after rising 0.4 percent in the prior month.
2020-11-27
Iceland Inflation Rate Rises to Near 1-1/2-Year High in October
The annual inflation rate in Iceland increased to 3.6 percent in October of 2020 from 3.5 percent in the previous month. It was the highest inflation rate since May last year, as prices rose further for food & non-alcoholic beverages (7.4 percent vs 6.5 percent in September); furnishings & household equipment (9.9 percent vs 8.9 percent); hotels & restaurants (1.3 percent vs 1.1 percent); clothing & footwear (3 percent vs 1.7 percent); and health (4.3 percent vs 4.2 percent). Also, cost of communications fell less (-3.8 percent vs -4.4 percent). Meanwhile, prices slowed for housing & utilities (2.3 percent vs 2.4 percent); transport (1.3 percent vs 1.7 percent); and miscellaneous goods & services (4.4 percent vs 4.6 percent). On a monthly basis, consumer prices went up 0.4 percent, the same as in the prior month.
2020-10-29

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.