The CPI based on prices in June 2008 is 307.1 points (May 1988=100), 0.89% higher than in the previous month. The CPI less housing cost is 275.9 points, 0.84% higher than in May. Prices of petrol and diesel oil increased 7.2% (effect on the index 0.35%).
Cost of owner occupied housing increased 0.4% (0.06%), thereof the effect of lower market prices was -0.04% and of higher real interest rate 0.10%. Rental cost increased 4.3% (0.10) and maintenance cost rose by 2.0% (0.10%).
The CPI in June 2008 is 12.7% higher than in June 2007 while the CPI less housing cost is 12.1% higher than one year ago. Over the last three months, the CPI has increased 5.8%, equivalent to an annual inflation rate of 25.1% (29.4% for the CPI less housing cost).
The CPI compiled at the middle of June, 307.1 points, is applicable for indexation purposes in August 2008. The old credit terms index for August 2008 is 6,064 points.
| The Icelandic consumer price index 2007-2008 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2007 | ||||||
| June | 272.4 | 0.5 | 6.4 | 8.2 | 4.7 | 4.0 |
| July | 273.0 | 0.2 | 2.7 | 6.6 | 4.6 | 3.8 |
| August | 273.1 | 0.0 | 0.4 | 3.1 | 3.8 | 3.4 |
| September | 276.7 | 1.3 | 17.0 | 6.5 | 7.3 | 4.2 |
| October | 278.1 | 0.5 | 6.2 | 7.7 | 7.1 | 4.5 |
| November | 279.9 | 0.6 | 8.0 | 10.3 | 6.7 | 5.2 |
| December | 281.8 | 0.7 | 8.5 | 7.6 | 7.0 | 5.9 |
| 2008 | ||||||
| January | 282.3 | 0.2 | 2.2 | 6.2 | 6.9 | 5.8 |
| February | 286.2 | 1.4 | 17.9 | 9.3 | 9.8 | 6.8 |
| March | 290.4 | 1.5 | 19.1 | 12.8 | 10.1 | 8.7 |
| April | 300.3 | 3.4 | 49.5 | 28.0 | 16.6 | 11.8 |
| May | 304.4 | 1.4 | 17.7 | 28.0 | 18.3 | 12.3 |
| June | 307.1 | 0.9 | 11.2 | 25.1 | 18.8 | 12.7 |
| Consumer price index by economic categories 2008 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| May | June | % | ||
| Consumer price index | 170.5 | 172.1 | 12.7 | 12.7 |
| Thereof: | ||||
| Domestic goods | 146.7 | 147.2 | 13.1 | 1.7 |
| Agricultural products | 145.2 | 145.5 | 14.8 | 0.8 |
| Domestic goods less agricultural products and vegetables | 147.2 | 147.7 | 11.8 | 0.9 |
| Imported goods | 138.5 | 140.3 | 15.1 | 5.2 |
| Imported goods less, alcohol and tobacco | 134.9 | 136.7 | 16.0 | 5.1 |
| Core index 1 (CPI less agricultural products, vegetables, | ||||
| fruits and petrol) | 170.8 | 171.7 | 11.0 | 9.9 |
| Core index 2 (core index 1 less public services) | 172.5 | 173.5 | 11.6 | 9.6 |
| Core index 3 (core index 2 less effects of interest rate) | 170.4 | 171.3 | 10.1 | 8.3 |
| Groceries (perishable items) | 143.4 | 144.6 | 16.1 | 2.3 |
Statistics