The CPI based on prices in August 2008 is 312.8 points (May 1988=100), 0.90% higher than in the previous month. The CPI less housing cost is 280.8 points, also 0.90% higher than in July.
Prices of petrol and diesel oil fell by 3.9% (effect on the index -0.20%) but prices of food and beverages rose by 1.8% (0.23%). The summer sales are coming to an end causing a 4.7% (0.19%) increase in prices of clothing and footwear.
Cost of owner occupied housing declined 0.3% (-0.06%), thereof the effect of lower market prices was -0.11% and of higher real interest rate 0.05%. Prices of material for maintenance of housing rose by 6.3% (0.25%).
The CPI in August 2008 is 14.5% higher than in August 2007 while the CPI less housing cost is 14.6% higher than one year ago. Over the last three months, the CPI has increased 2.8%, equivalent to an annual inflation rate of 11.5% (10.9% for the CPI less housing cost).
The CPI compiled at the middle of August, 312.8 points, is applicable for indexation purposes in October 2008. The old credit terms index for October 2008 is 6,176 points.
| The Icelandic consumer price index 2007-2008 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2007 | ||||||
| August | 273.1 | 0.0 | 0.4 | 3.1 | 3.8 | 3.4 |
| September | 276.7 | 1.3 | 17.0 | 6.5 | 7.3 | 4.2 |
| October | 278.1 | 0.5 | 6.2 | 7.7 | 7.1 | 4.5 |
| November | 279.9 | 0.6 | 8.0 | 10.3 | 6.7 | 5.2 |
| December | 281.8 | 0.7 | 8.5 | 7.6 | 7.0 | 5.9 |
| 2008 | ||||||
| January | 282.3 | 0.2 | 2.2 | 6.2 | 6.9 | 5.8 |
| February | 286.2 | 1.4 | 17.9 | 9.3 | 9.8 | 6.8 |
| March | 290.4 | 1.5 | 19.1 | 12.8 | 10.1 | 8.7 |
| April | 300.3 | 3.4 | 49.5 | 28.0 | 16.6 | 11.8 |
| May | 304.4 | 1.4 | 17.7 | 28.0 | 18.3 | 12.3 |
| June | 307.1 | 0.9 | 11.2 | 25.1 | 18.8 | 12.7 |
| July | 310.0 | 0.9 | 11.9 | 13.6 | 20.6 | 13.6 |
| August | 312.8 | 0.9 | 11.4 | 11.5 | 19.5 | 14.5 |
| Percentage changes, not seasonally adjusted. | ||||||
| Consumer price index by economic categories 2008 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| July | August | % | ||
| Consumer Price Index | 173.7 | 175.2 | 14.5 | 14.5 |
| Thereof: | ||||
| Domestic goods | 149.8 | 151.9 | 15.8 | 2.0 |
| Agricultural products | 147.3 | 149.5 | 16.8 | 0.9 |
| Domestic goods less agricultural products and vegetables | 151.0 | 153.1 | 15.0 | 1.1 |
| Imported goods | 141.3 | 142.1 | 19.8 | 6.7 |
| Imported goods less, alcohol and tobacco | 137.6 | 138.4 | 21.0 | 6.5 |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 173.2 | 175.1 | 12.9 | 11.6 |
| Core index 2 (core index 1 less public services) | 175.1 | 177.1 | 13.6 | 11.3 |
| Core index 3 (core index 2 less effects of interest rate) | 172.6 | 174.6 | 12.0 | 9.9 |
| Groceries (perishable items) | 147.7 | 150.4 | 20.5 |
3.0 |
Statistics