Iceland Inflation Rate1989-2020 Data | 2021-2022 Forecast | Calendar | Historical

The annual inflation rate in Iceland stood at 2.6 percent in June of 2020, unchanged from May's six-month high. Higher prices of food & non-alcoholic beverages (5.5 percent vs 4.9 percent in May); hotels, cafes & restaurants (3.5 percent vs 1.4 percent) and health (3.1 percent vs 2.4 percent) were partly offset by decreases in those of communications (-5.6 percent vs -5.5 percent) and transport (-1.6 percent vs -1.3 percent). In addition, inflation eased mostly for housing & utilities (2.3 percent vs 2.4 percent); furnishings (6.1 percent vs 6.8 percent); recreation & culture (4.2 percent vs 4.4 percent); education (1.3 percent vs 1.9 percent) and clothing & footwear (0.8 percent vs 1.2 percent). On a monthly basis, consumer prices went up 0.4 percent, slowing from a 0.7 percent increase in the prior month.

The annual inflation rate in Iceland picked up to 2.7 percent in May of 2020 from 2.2 percent in the previous month. It was the highest inflation rate since last November. Main upward pressure came from prices of food & non-alcoholic beverages (4.9 percent vs 3.9 percent in April); furnishings (6.8 percent vs 3.4 percent); alcoholic beverages & tobacco (4.6 percent vs 4.2 percent) and recreation & culture (4.4 percent vs 4.2 percent). Also, cost decreased less for transport (-0.6 percent vs -2.4 percent). Meanwhile, inflation slowed for housing & utilities (2.4 percent vs 3 percent). On a monthly basis, consumer prices were up 0.7 percent, after increasing 0.5 percent in the prior month.

The annual inflation rate in Iceland rose marginally to 2.2 percent in April of 2020 from 2.1 percent in the previous month. Main upward pressure came from prices of food & non-alcoholic beverages (4 percent vs 2.4 percent in March); alcoholic beverages & tobacco (4.2 percent vs 2.8 percent); housing & utilities (3 percent vs 2.8 percent); furnishings (3.4 percent vs 1.1 percent); recreation & culture (4.2 percent vs 3.9 percent) and miscellaneous goods & services (3.97 percent vs 3 percent). Meanwhile, costs declined for transport (-2.2 percent vs 0.3 percent) and communications (-2.5 percent vs -5.2 percent). On a monthly basis, consumer prices went up 0.5 percent, after increasing 0.2 percent in the prior month.

The annual inflation rate in Iceland fell to 2.1 percent in March 2020 from 2.4 percent in the previous month. Prices slowed for transport (0.3 percent vs 2.5 percent in February); miscellaneous goods & services (3 percent vs 3.2 percent); restaurants & hotels (1.6 percent vs 2.2 percent); clothing & footwear (2.7 percent vs 7.6 percent); and alcoholic beverages & tobacco (2.7 percent vs 3 percent). In contrast, prices went up further for food & non-alcoholic beverages (2.3 percent vs 1.8 percent); housing & utilities (2.8 percent vs 2.6 percent); recreation & culture (4 percent vs 3.5 percent); furnishings & household equipment (1.1 percent vs 0.7 percent); and health (1.2 percent vs 0.6 percent). Also, inflation was steady for education (at 1.9 percent). On a monthly basis, consumer prices rose 0.2 percent, easing from a 0.9 percent gain in the prior month.