The Consumer Price Index (CPI) based on prices in August 2018 is 455.7 points (May 1988=100), 0.20% higher than in the previous month. The CPI less housing cost is 389.5 points, 0.10% higher than in July 2018.
International airfares declined by 7.2% (effect on index -0.12%). Summer sales have partly come to a close causing an increase in prices of clothing by 4.2% (0.11%).
The CPI is 2.6% higher in August 2018 than in August 2017 while the CPI less housing cost is 1.3% higher than one year ago.
The CPI compiled in the middle of August 2018, 455.7 points, is applicable for indexation purposes in October 2018. The old credit terms index for October is 8,998 points.
| The Icelandic consumer price index 2017-2018 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2017 | ||||||
| August | 444.0 | 0.2 | 3.0 | 0.9 | 2.0 | 1.7 |
| September | 444.6 | 0.1 | 1.6 | 1.5 | 2.1 | 1.4 |
| October | 446.7 | 0.5 | 5.8 | 3.5 | 2.1 | 1.9 |
| November | 446.0 | -0.2 | -1.9 | 1.8 | 1.4 | 1.7 |
| December | 447.2 | 0.3 | 3.3 | 2.4 | 1.9 | 1.9 |
| 2018 | ||||||
| January | 446.8 | -0.1 | -1.1 | 0.1 | 1.8 | 2.4 |
| February | 449.5 | 0.6 | 7.5 | 3.2 | 2.5 | 2.3 |
| March | 452.0 | 0.6 | 6.9 | 4.4 | 3.4 | 2.8 |
| April | 452.2 | 0.0 | 0.5 | 4.9 | 2.5 | 2.3 |
| May | 451.8 | -0.1 | -1.1 | 2.1 | 2.6 | 2.0 |
| June | 454.6 | 0.6 | 7.7 | 2.3 | 3.3 | 2.6 |
| July | 454.8 | 0.0 | 0.5 | 2.3 | 3.6 | 2.7 |
| August | 455.7 | 0.2 | 2.4 | 3.5 | 2.8 | 2.6 |