The Consumer Price Index (CPI) based on prices in February 2016 is 431.2 points (May 1988=100), 0.68% higher than in January 2016. The CPI less housing cost is 394.3 points, 0.69% higher than in January.
Winter sales are coming to a close causing an increase in prices of clothing and footwear by 6.4% (effect on index 0.25%) and increase in prices of furnishing and household equipment by 11.7% (0.16%). Cost of owner occupied housing (imputed rent) rose by 1.0% (0.16) and cost of international airfares decreased by 11.9% (-0.16).
The CPI is 2.2% higher in February 2016 than in February 2015 while the CPI less housing cost is 0.7% higher than one year ago.
The CPI compiled in the middle of February 2016, 431.2 points, is applicable for indexation purposes in April 2016. The old credit terms index for April 2016 is 8,514 points.
| Consumer price index by economic categories 2016 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| January | February | % | ||
| Consumer Price Index | 239.9 | 241.6 | 2.2 | 2.2 |
| Thereof: | ||||
| Domestic goods and vegetables | 220.8 | 221.7 | 2.2 | 0.3 |
| Agricultural products | 208.3 | 208.3 | 1.9 | 0.1 |
| Domestic goods less agricultural products | 229.6 | 231.3 | 2.4 | 0.2 |
| Imported goods | 185.6 | 188.5 | -1.2 | -0.4 |
| Imported goods less, alcohol and tobacco | 175.6 | 178.5 | -1.5 | -0.4 |
| Groceries (perishable items) | 215.3 | 215.1 | 1.5 | 0.2 |
| The Icelandic consumer price index 2015-2016 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2015 | ||||||
| February | 422.1 | 0.7 | 8.3 | 1.0 | -0.5 | 0.8 |
| March | 426.4 | 1.0 | 12.9 | 3.9 | 1.8 | 1.6 |
| April | 427.0 | 0.1 | 1.7 | 7.6 | 1.8 | 1.4 |
| May | 428.2 | 0.3 | 3.4 | 5.9 | 3.4 | 1.6 |
| June | 429.3 | 0.3 | 3.1 | 2.7 | 3.3 | 1.5 |
| July | 430.0 | 0.2 | 2.0 | 2.8 | 5.2 | 1.9 |
| August | 432.3 | 0.5 | 6.6 | 3.9 | 4.9 | 2.2 |
| September | 430.6 | -0.4 | -4.6 | 1.2 | 2.0 | 1.9 |
| October | 430.9 | 0.1 | 0.8 | 0.8 | 1.8 | 1.8 |
| November | 429.4 | -0.3 | -4.1 | -2.7 | 0.6 | 2.0 |
| December | 430.8 | 0.3 | 4.0 | 0.2 | 0.7 | 2.0 |
| 2015 | ||||||
| January | 428.3 | -0.6 | -6.7 | -2.4 | -0.8 | 2.1 |
| February | 431.2 | 0.7 | 8.4 | 1.7 | -0.5 | 2.2 |
| Percentage changes, not seasonally adjusted. | ||||||