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.
Inflation Rate in Iceland averaged 4.92 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. Iceland Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Inflation Rate in Iceland is expected to be 2.50 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 2.30 in 12 months time. In the long-term, the Iceland Inflation Rate is projected to trend around 2.80 percent in 2021 and 2.30 percent in 2022, according to our econometric models.