The CPI compiled in April 2007 is 268.7 points (May 1988=100), 0.60% higher than in the previous month. The CPI less housing cost is 243.7 points, 0.21% higher than in March.
Cost of owner occupied housing rose by 2.5% (effect on the index 0.45%), mainly as a result of rising market prices. Prices of clothing and footwear rose by 5.5% (0.24%) as winter sales were more or less finished. Prices of food and beverages fell by 0.9% (0.12%), partly owing to the abolition of excise tax on a few groups of food.
The CPI in April 2007 is 5.3% higher than in April 2006 while the CPI less housing cost is 3.2% higher than one year ago. The constant tax-rate CPI is 7.2% higher in April 2007 than in April 2006. Over the last three months, the CPI rose by 0.7% equivalent to an annual inflation rate of 2.7% (CPI less housing cost 2.6% deflation).
The credit terms index applicable in May 2007 is 268.7 points. The old credit terms index is 5.305 points for May 2007.
The consumer price index is rebased in March every year and is now based on a three year average of household expenditures for the years 2003 – 2005 according to the continuous household expenditure survey of Statistics Iceland. The rebasing at this time does not lead to any significant changes in the division of weights from one year to the next. Furthermore, it should be pointed out that the rebasing of the index does not as such have any price effects on the CPI.
The changes of the index in the previous year will be further outlined in a separate issue of the Statistical Series on 3 May 2007.
| The Icelandic Consumer Price Index 2006-2007 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2006 | ||||||
| March | 252.3 | 1.1 | 14.3 | 5.6 | 4.4 | 4.5 |
| April | 255.2 | 1.1 | 14.7 | 9.1 | 5.5 | 5.5 |
| May | 258.9 | 1.4 | 18.9 | 15.9 | 9.0 | 7.6 |
| June | 261.9 | 1.2 | 14.8 | 16.1 | 10.7 | 8.0 |
| July | 263.1 | 0.5 | 5.6 | 13.0 | 11.0 | 8.4 |
| August | 264.0 | 0.3 | 4.2 | 8.1 | 12.0 | 8.6 |
| September | 265.6 | 0.6 | 7.5 | 5.8 | 10.8 | 7.6 |
| October | 266.2 | 0.2 | 2.7 | 4.8 | 8.8 | 7.2 |
| November | 266.1 | 0.0 | -0.4 | 3.2 | 5.6 | 7.3 |
| December | 266.2 | 0.0 | 0.5 | 0.9 | 3.3 | 7.0 |
| 2007 | ||||||
| January | 266.9 | 0.3 | 3.2 | 1.1 | 2.9 | 6.9 |
| February | 268.0 | 0.4 | 5.1 | 2.9 | 3.1 | 7.4 |
| March | 267.1 | -0.3 | -4.0 | 1.4 | 1.1 | 5.9 |
| April | 268.7 | 0.6 | 7.4 | 2.7 | 1.9 | 5.3 |
| Percentage changes, not seasonally adjusted. | ||||||
| Consumer price index by economic categories 2007 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| March | April | % | ||
| Consumer Price Index | 149.6 | 150.6 | 5.3% | 5.3% |
| Thereof: | ||||
| Domestic goods | 129.9 | 129.0 | -0.5% | -0.1% |
| Agricultural products | 126.3 | 125.4 | -0.3% | 0.0% |
| Domestic goods less agricultural products and vegetables | 132.0 | 131.2 | -0.7% | -0.1% |
| Imported goods | 119.5 | 120.1 | 3.5% | 1.2% |
| Imported goods less, alcohol and tobacco | 115.4 | 116.0 | 3.3% | 1.0% |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 151.9 | 153.0 | 6.4% | 5.6% |
| Core index 2 (core index 1 less public services) | 152.6 | 153.8 | 6.6% | 5.4% |
| Groceries (perishable items) | 124.3 | 123.5 | 0.1% | 0.0% |
Statistics