Inflation in Iceland Drops to 11.9 Percent Skip to content

Inflation in Iceland Drops to 11.9 Percent

By Iceland Review

The 12-month inflation in Iceland has dropped from 18.6 percent in January to the current rate of 11.9 percent, according to information from Statistics Iceland.

The consumer price index (CPI) increased by 0.45 percent in April compared to the previous month and by 0.84 percent if housing is not included, mbl.is reports.

Icelandic bank notes. Photo by Páll Stefánsson.

For the past 12 months the CPI has increased by 11.9 percent and by 15.6 percent without housing included. Twelve-month inflation peaked at 18.6 percent in January.

For the past three months the CPI has increased by 0.4 percent, which equals 1.4 percent annual inflation and 9.4 percent if housing is not included.

According to Statistics Iceland, the price of gasoline and diesel oil increased by 8.2 percent (raising the CPI by 0.33 percent) and the price of clothing and shoes by 3.2 percent (raising the CPI by 0.19 percent).

The cost of privately-owned housing decreased by 1.6 percent (lowering by the CPI by 0.23 percent). The price of food and beverages dropped by 0.7 percent (lowering the CPI by 0.10 percent).

Click here to read more about the development of the inflation.

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