The Consumer Price Index (CPI) based on prices in January 2020 is 469.8 points (May 1988=100), 0.74% lower than in the previous month. The CPI less housing cost is 400.5 points, 0.87% lower than in December 2019.
Winter sales are ongoing and prices of clothing and footwear decreased by 10.9% (effect on the index -0.48%) and prices of furniture and furnishings decreased by 6.7% (-0.13%). Cost of owner occupied housing (imputed rent) decreased by 0.6% (-0.10%).
The CPI is 1.7% higher in January 2020 than in January 2019 while the CPI less housing cost is 1.6% higher than one year ago.
The CPI compiled in the middle of January 2020, 469.8 points, is applicable for indexation purposes in March 2020. The old credit terms index for March 2020 is 9,276 points.
| The Icelandic consumer price index 2019-2020 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2019 | ||||||
| January | 462.0 | -0.4 | -4.8 | 2.3 | 3.2 | 3.4 |
| February | 462.9 | 0.2 | 2.4 | 2.1 | 3.2 | 3.0 |
| March | 465.3 | 0.5 | 6.4 | 1.2 | 3.8 | 2.9 |
| April | 467.0 | 0.4 | 4.5 | 4.4 | 3.3 | 3.3 |
| May | 468.0 | 0.2 | 2.6 | 4.5 | 3.3 | 3.6 |
| June | 469.8 | 0.4 | 4.7 | 3.9 | 2.6 | 3.3 |
| July | 468.8 | -0.2 | -2.5 | 1.6 | 3.0 | 3.1 |
| August | 470.1 | 0.3 | 3.4 | 1.8 | 3.1 | 3.2 |
| September | 470.5 | 0.1 | 1.0 | 0.6 | 2.2 | 3.0 |
| October | 472.2 | 0.4 | 4.4 | 2.9 | 2.2 | 2.8 |
| November | 472.8 | 0.1 | 1.5 | 2.3 | 2.1 | 2.7 |
| December | 473.3 | 0.1 | 1.3 | 2.4 | 1.5 | 2.0 |
| 2020 | ||||||
| January | 469.8 | -0.7 | -8.5 | -2.0 | 0.4 | 1.7 |
| Percentage changes, not seasonally adjusted. | ||||||