The Consumer Price Index based on prices in July is 397.2 points (May 1988=100), 0.72% lower than in the previous month. The CPI less housing cost is 376.9 points, 1.0% higher than in June.
Summer sales are ongoing causing a 9.8% decrease in clothing and footwear prices (effect on the index -0.54%), international airfares declined by 15% (-0.29%) and prices of petrol and diesel oil fell by 2.2% (-0.12%).
Prices of food and non-alcoholic beverages rose by 1.3% (0.19%), largely due to a 5.2% price increase of milkproducts and eggs (0.12%).
The CPI is 4.6% higher in July 2012 than in July 2011 and the CPI less housing cost is 4.7% higher than one year ago. Over the last three months, the CPI has decreased by 0.3%, equivalent to an annual deflation rate of 1.0% (1.9% deflation for the CPI less housing cost).
The CPI compiled in the middle of July 2012, 397.2 points, is applicable for indexation purposes in September 2012. The old credit terms index for September 2012 is 7,843 points.
| Consumer price index by economic categories 2012 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| June | July | % | ||
| Consumer Price Index | 224.2 | 222.5 | 4.6 | 4.6 |
| Thereof: | ||||
| Domestic goods and vegetables | 200.0 | 203.2 | 7.1 | 0.9 |
| Agricultural products | 184.7 | 191.3 | 9.3 | 0.6 |
| Domestic goods less agricultural products | 212.0 | 211.6 | 5.3 | 0.4 |
| Imported goods | 200.3 | 196.1 | 2.8 | 1.0 |
| Imported goods less, alcohol and tobacco | 193.2 | 188.8 | 2.6 | 0.9 |
| Groceries (perishable items) | 200.4 | 202.3 | 6.4 | 1.1 |
| The Icelandic consumer price index 2011-2012 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2011 | ||||||
| July | 379.9 | 0.1 | 1.3 | 6.3 | 9.3 | 5.0 |
| August | 380.9 | 0.3 | 3.2 | 3.5 | 7.3 | 5.0 |
| September | 383.3 | 0.6 | 7.8 | 4.1 | 6.6 | 5.7 |
| October | 384.6 | 0.3 | 4.1 | 5.0 | 5.7 | 5.3 |
| November | 384.6 | 0.0 | 0.0 | 3.9 | 3.7 | 5.2 |
| December | 386.0 | 0.4 | 4.5 | 2.8 | 3.5 | 5.3 |
| 2012 | ||||||
| January | 387.1 | 0.3 | 3.5 | 2.6 | 3.8 | 6.5 |
| February | 391.0 | 1.0 | 12.8 | 6.8 | 5.4 | 6.3 |
| March | 395.1 | 1.0 | 13.3 | 9.8 | 6.3 | 6.4 |
| April | 398.2 | 0.8 | 9.8 | 12.0 | 7.2 | 6.4 |
| May | 398.1 | 0.0 | -0.3 | 7.5 | 7.1 | 5.4 |
| June | 400.1 | 0.5 | 6.2 | 5.2 | 7.4 | 5.4 |
| July | 397.2 | -0.7 | -8.4 | -1.0 | 5.3 | 4.6 |
| Percentage changes, not seasonally adjusted. | ||||||
Statistics