The average Icelandic household earns approximately ISK 340,000 per month with the consumption expenditures amounting to 94% of the income, reports a new household expenditure survey by Statistics Iceland.
According to the report, the average household expenditure increased by 9.3% from 2001–2003 while the average household size continues to decrease, 2.58 individuals vs.2.62 from last year’s results.
The survey, performed in 2002 – 2004, was calculated at 2004 prices with participation from 1,888 households and a 53% response rate.
