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.


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Iceland Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.70 2.00 25.20 -0.06 1989 - 2020 percent Monthly
Jan 2008=100


Calendar GMT Actual Previous Consensus TEForecast
2019-10-28 09:00 AM Oct 2.8% 3% 3.1%
2019-11-27 09:00 AM Nov 2.7% 2.8% 2.6%
2019-12-19 09:00 AM Dec 2.0% 2.7% 2.6%
2020-01-30 09:00 AM Jan 1.7% 2% 2.2%
2020-02-27 09:00 AM Feb 1.7% 2%
2020-03-27 09:00 AM Mar 2%
2020-04-29 09:00 AM Apr 1.9%
2020-05-28 09:00 AM May 1.7%


News Stream
Iceland January Inflation Rate Falls to Over 2-Year Low
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.
2020-01-30
Iceland Inflation Rate at Over 1-Year Low
Annual inflation rate in Iceland decreased to 2.0 percent in December of 2019 from 2.7 percent in the previous month. It was the lowest inflation rate since May 2018, as prices advanced at a softer pace for housing & utilities (2.6 percent vs 3.2 percent); transport (0.5 percent vs 1.7 percent); food & non-alcoholic beverages (1.0 percent vs 2.5 percent); recreation & culture (2.8 percent vs 3.0 percent) and miscellaneous goods & services (3.8 percent vs 3.9 percent). Meantime, inflation was steady for restaurants & hotels (at 2.4 percent). On a monthly basis, consumer prices edged up 0.1 percent, the same as in the preceding month.
2019-12-19
Iceland Inflation Rate at Over 1-Year Low of 2.7%
Annual inflation rate in Iceland ticked down to 2.7% in November 2019 from 2.8% in the previous month. It was the softest inflation rate since September 2018, as prices slowed for transport (1.7% vs 2.5% in October); recreation & culture (3% vs 3.7%); hotels, cafes & restaurants (2.4% vs 2.8%); clothing & footwear (2.1% vs 2.7%) and health (1.8% vs 2.9%). Meanwhile, cost advanced further for food & non-alcoholic beverages (2.5% vs 2.4%) and miscellaneous goods & services (3.9% vs 3.6%). At the same time, inflation remained steady for housing & utilities (at 3.1%) and alcoholic beverages & tobacco (at 2.2%). On a monthly basis, consumer prices edged up 0.1%, after increasing 0.4% in the preceding month.
2019-11-27
Iceland Inflation Rate at 1-Year Low of 2.8%
Annual inflation rate in Iceland decreased to 2.8% in October 2019 from 3% in the previous month. It was the lowest inflation since October 2018, as cost slowed for transport (2.5% from 3.1% in September); food & non-alcoholic beverages (2.4% from 3.1%); miscellaneous goods & services (3.6% from 3.7%); restaurant & hotels (2.8% from 3%); furniture & household equipment (3.2% from 4.9%); clothing & footwear (2.7% from 3.2%) and alcoholic beverages & tobacco (2.2% from 2.5%). On the other hand, prices advanced faster for housing & utilities (3.1% from 2.9%); recreation & culture (3.7% from 3%) Meanwhile, inflation was steady for health (at 2.9%) and education (at 2.4%) while cost continued to fall for communication (-2.5% from -1.7%). On a monthly basis, consumer prices went up 0.4%, after a 0.1% gain in September.
2019-10-28

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.