The Consumer Price Index (CPI) based on prices in January 2018 is 446.8 points (May 1988=100), 0.09% lower than in the previous month. The CPI less housing cost is 384.4 points, 0.57% lower than in December 2017.
Winter sales are ongoing and prices of clothing and footwear decreased by 10.0% (effect on the index -0.35%). Cost of owner occupied housing (imputed rent) rose by 0.9% (0.19%). Cost of international airfares decreased by 9.0% (-0.10%).
The CPI is 2.4% higher in January 2018 than in January 2017 while the CPI less housing cost is 0.9% lower than one year ago.
The CPI compiled in the middle of January 2018, 446.8 points, is applicable for indexation purposes in March 2018. The old credit terms index for March 2018 is 8,822 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 | ||||||
| January | 436.5 | -0.6 | -6.6 | -1.8 | 0.7 | 1.9 |
| February | 439.6 | 0.7 | 8.9 | 1.1 | 1.5 | 1.9 |
| March | 439.9 | 0.1 | 0.8 | 0.8 | 0.6 | 1.6 |
| April | 442.1 | 0.5 | 6.2 | 5.2 | 1.6 | 1.9 |
| May | 443.0 | 0.2 | 2.5 | 3.1 | 2.1 | 1.7 |
| June | 443.0 | 0.0 | 0.0 | 2.8 | 1.8 | 1.5 |
| July | 442.9 | 0.0 | -0.3 | 0.7 | 3.0 | 1.8 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||