The Consumer Price Index (CPI) based on prices in December 2018 is 463.9 points (May 1988=100), 0.74% higher than in the previous month. The CPI less housing cost is 397.2 points, 0.94% higher than in November 2018.
Prices of food and non-alcoholic beverages rose by 1% (effect on the index 0.11%). Prices of new cars rose by 1.7% (0.15%). International airfares rose by 25.1% (0.27%) and prices of fuels and lubricants decreased by 3.2% (-0.11%).
The average CPI in the year 2018 was 454.8 points, 2.7% higher than the average in 2017. This increase corresponds to a 1.8% rise in 2017 and 1.7% in 2016. The average CPI less housing cost was 389.9 points in 2018, 0.85% higher than in 2017. This change can be compared to -2.2% in the year 2017 and -0.1% in 2016.
The CPI is 3.7% higher in December 2018 than in December 2017 while the CPI less housing cost is 2.7% higher than one year ago.
The CPI compiled in the middle of December 2018, 463.9 points, is applicable for indexation purposes in February 2019. The old credit terms index for February 2019 is 9,160 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 | ||||||
| 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 |
| September | 456.8 | 0.2 | 2.9 | 1.9 | 2.1 | 2.7 |
| October | 459.4 | 0.6 | 7.0 | 4.1 | 3.2 | 2.8 |
| November | 460.5 | 0.2 | 2.9 | 4.3 | 3.9 | 3.3 |
| December | 463.9 | 0.7 | 9.2 | 6.4 | 4.1 | 3.7 |
Percentage changes, not seasonally adjusted