Inflation in Iceland over the last 12 months is 5.7% according to the harmonized price index (HICP) of the EU. The average inflation in Europe over the same period was 2.5% according to Statistics Iceland.
The HICP average for member countries of the European Economic Area (EU-countries, Iceland and Norway) was 102.5 points (2005=”100)” in June, 0.1% higher than in May. At the same time, the HICP for Iceland was 105.3 points, 1.3% higher than in the previous month.
The 12-month rate of change of the HICP was 2.4% for the EEA, 2.5% for the Euro-zone and 5.7% for Iceland.
The highest inflation rates in the EEA in this twelve month period were 6.3% in Latvia and 5.7% in Iceland. The lowest inflation rates were 1.5% in Poland and Finland.