The CPI based on prices in June 2009 is 344.5 points (May 1988=100), 1.38% higher than in the previous month. The CPI less housing cost is 322.1 points, 1.90% higher than in May.
Increased taxes on alcohol, tobacco, petrol and diesel oil, decided by the parliament on 28 May, make up for 0.4% of the increase in the CPI, as the constant tax rate CPI rose by 0.98%. The effect of the higher special tax on petrol is not yet realised in the index.
Prices of petrol and diesel oil rose by 7.8% (effect on the index 0.36%) and prices of alcoholic beverages and tobacco by 9.8% (0.32%). The increases are partly due to changes in specific taxes on these products. Prices of food and beverages rose by 1.2% (0.17%).
Cost for owner occupied housing decreased by 0.8% (-0.11%), thereof the effect of lower market prices was -0.07% and of lower real interest rates -0.04%.
The CPI in June 2009 is 12.2% higher than in June 2008 while the CPI less housing cost is 16.7% higher than one year ago. Over the last three months, the CPI has increased by 3.0%, equivalent to an annual inflation rate of 12.5% (18.1% for the CPI less housing cost).
| The Icelandic consumer price index 2008-2009 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2008 | ||||||
| June | 307,1 | 0,9 | 11,2 | 25,1 | 18,8 | 12,7 |
| July | 310,0 | 0,9 | 11,9 | 13,6 | 20,6 | 13,6 |
| August | 312,8 | 0,9 | 11,4 | 11,5 | 19,5 | 14,5 |
| September | 315,5 | 0,9 | 10,9 | 11,4 | 18,0 | 14,0 |
| October | 322,3 | 2,2 | 29,2 | 16,8 | 15,2 | 15,9 |
| November | 327,9 | 1,7 | 23,0 | 20,8 | 16,0 | 17,1 |
| December | 332,9 | 1,5 | 19,9 | 24,0 | 17,5 | 18,1 |
| 2009 | ||||||
| January | 334,8 | 0,6 | 7,1 | 16,4 | 16,6 | 18,6 |
| February | 336,5 | 0,5 | 6,3 | 10,9 | 15,7 | 17,6 |
| March | 334,5 | -0,6 | -6,9 | 1,9 | 12,4 | 15,2 |
| April | 336,0 | 0,4 | 5,5 | 1,4 | 8,7 | 11,9 |
| May | 339,8 | 1,1 | 14,4 | 4,0 | 7,4 | 11,6 |
| June | 344,5 | 1,4 | 17,9 | 12,5 | 7,1 | 12,2 |
| Percentage changes, not seasonally adjusted. | ||||||
The CPI compiled in the middle of June 2009, 344.5 points, is applicable for indexation purposes in August 2009. The old credit terms index for August 2009 is 6,802 points.
| Consumer price index by economic categories 2009 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| May | June | % | ||
| Consumer Price Index | 190,4 | 193,0 | 12,2 | 12,2 |
| Thereof: | ||||
| Domestic goods | 166,3 | 168,4 | 14,4 | 1,9 |
| Agricultural products | 159,4 | 159,8 | 9,8 | 0,6 |
| Domestic goods less agricultural products and vegetables | 171,0 | 174,7 | 18,3 | 1,3 |
| Imported goods | 167,3 | 171,8 | 22,5 | 8,0 |
| Imported goods less, alcohol and tobacco | 162,5 | 165,7 | 21,3 | 6,9 |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 191,6 | 193,7 | 12,8 | 11,2 |
| Core index 2 (core index 1 less public services) | 194,6 | 196,9 | 13,5 | 10,8 |
| Core index 3 (core index 2 less effects of interest rate) | 192,8 | 195,2 | 13,9 | 11,0 |
| Groceries (perishable items) | 172,3 | 174,4 | 20,7 | 3,3 |
Statistics