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Inflation, CPI (Average) in Iceland

Source: World Bank, National Statistical Office, IMF estimates (Oct 2020)
Last Updated: Feb 8, 2021

Average inflation measured by CPI reached 2.68 % in 2018 in Iceland, according to the National Statistical Office. This is 52.4 % more than in the previous year.

Historically, average inflation measured by CPI in Iceland reached an all time high of 84.3 % in 1983 and an all time low of 1.55 % in 1994. When compared to Iceland's main peers, average inflation measured by CPI in Denmark amounted to 0.709 %, 2.77 % in Norway, 2.04 % in Sweden and 2.48 % in United Kingdom in 2018.

Iceland has been ranked 81st within the group of 175 countries we follow in terms of average inflation measured by CPI, 38 places behind the position seen 10 years ago.

Inflation as measured by the consumer price index (CPI) reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.

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