The annual inflation rate in Iceland held steady at 4.8% in December 2024, matching November’s figure and remaining at its lowest level since November 2021. Prices accelerated for food & non-alcoholic beverages (4.1% vs 3.9% in November), furnishing, household equipment (1% vs -0.1%), and transport (1.7% vs 1.5%). On the other hand, inflation slowed for clothing & footwear (0.9% vs 1.4%), health (4.8% vs 5.5%), and miscellaneous goods and services (4.9% vs 5.5%). On a monthly basis, consumer prices increased by 0.4%, following a 0.1% gain in the preceding period. source: Statistics Iceland

Inflation Rate in Iceland remained unchanged at 4.80 percent in December. Inflation Rate in Iceland averaged 5.12 percent from 1989 until 2024, 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 2025.

Inflation Rate in Iceland remained unchanged at 4.80 percent in December. Inflation Rate in Iceland is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Inflation Rate is projected to trend around 3.70 percent in 2025 and 3.80 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-11-28 09:00 AM
Inflation Rate YoY
Nov 4.8% 5.1% 4.8%
2024-12-19 09:00 AM
Inflation Rate YoY
Dec 4.8% 4.8% 4.8%
2025-01-30 09:00 AM
Inflation Rate YoY
Jan 4.8%


Related Last Previous Unit Reference
CPI 637.20 634.70 points Dec 2024
Core Consumer Prices 356.20 354.80 points Dec 2024
Core Inflation Rate 5.07 5.16 percent Dec 2024
CPI Housing Utilities 286.10 285.00 points Dec 2024
CPI Transportation 203.20 201.30 points Dec 2024
Food Inflation 4.10 3.90 percent Dec 2024
GDP Deflator 141.13 133.27 points Dec 2023
Inflation Rate YoY 4.80 4.80 percent Dec 2024
Inflation Rate MoM 0.40 0.10 percent Dec 2024
Producer Prices 299.00 290.80 points Nov 2024
PPI YoY 7.20 4.80 percent Nov 2024

Iceland Inflation Rate
In Iceland, the most important categories in the consumer price index are housing and utilities (29 percent of total weight); transport (15 percent); and food and non-alcoholic beverages (15 percent). The index also includes: recreation and culture (10 percent); miscellaneous goods and services (7 percent); and furnishings and household equipment (7 percent). Hotels, cafes and restaurants, health, clothing and footwear, alcoholic beverages and tobacco, communication and education account for the remaining 17 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
4.80 4.80 25.20 -0.06 1989 - 2024 percent Monthly
1988M5=100, NSA


News Stream
Iceland Inflation Rate Stays at 3-Year Low
The annual inflation rate in Iceland held steady at 4.8% in December 2024, matching November’s figure and remaining at its lowest level since November 2021. Prices accelerated for food & non-alcoholic beverages (4.1% vs 3.9% in November), furnishing, household equipment (1% vs -0.1%), and transport (1.7% vs 1.5%). On the other hand, inflation slowed for clothing & footwear (0.9% vs 1.4%), health (4.8% vs 5.5%), and miscellaneous goods and services (4.9% vs 5.5%). On a monthly basis, consumer prices increased by 0.4%, following a 0.1% gain in the preceding period.
2024-12-19
Iceland Inflation Rate at 3-Year Low
The annual inflation rate in Iceland eased to 4.8% in November 2024, from 5.1% in the previous month, marking the lowest reading since November 2021. Prices moderated for food & non-alcoholic beverages (3.8% vs 4.1% in October), clothing & footwear (1.4% vs 3.3%), and housing & utilities (10.9% vs 11.6%). On the other hand, costs increased for transport (1.5% vs 1.2%) and miscellaneous goods & services (5.4% vs 5.3%). On a monthly basis, the CPI rose by 0.1%, following 0.3% increase in the preceding period.
2024-11-28
Iceland Inflation Rate Lowest Since Late 2021
The annual inflation rate in Iceland eased to 5.1% in October 2024, from 5.4% in the previous month, marking the lowest reading since December 2021. Prices rose at a slower rate for food & non-alcoholic beverages (4.1% vs 4.2% in September 2024), housing & utilities (11.6% vs 12.9%) and recreation & culture (3.4% vs 3.9%). In contrast, prices accelerated for transport (1.2% vs 0.7%) and clothing & footwear (3.2% vs 2.7%). On a monthly basis, the CPI rose by 0.3%, up from a 0.2% decline in the preceding period.
2024-10-30