The Consumer Price Index (CPI) based on prices in June 2017 is 443.0 points (May 1988=100), the same as it was in May 2017. The CPI less housing cost is 386.0 points, 0.41% lower than in May 2017.
Cost of owner occupied housing (imputed rent), rose by 1.2% (effect on the index 0.24%), prices of food and non-alcoholic beverages declined by 1.2% (-0.16%), international airfares rose by 11.6% (0.13%), Prices of clothing rose by 3.5% (0.11%) and prices of recreational and culture related products and services declined by 1.2% (-0.12%).
The CPI is 1.5% higher in June 2017 than in June 2016 while the CPI less housing cost is 3.1% lower than one year ago.
The CPI compiled in the middle of June 2017, 443.0 points, is applicable for indexation purposes in August 2017. The old credit terms index for August 2017 is 8,747 points.
| The Icelandic consumer price index 2016-2017 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2016 | ||||||
| June | 436.3 | 0.2 | 2.2 | 3.3 | 2.6 | 1.6 |
| July | 434.9 | -0.3 | -3.8 | 1.1 | 3.1 | 1.1 |
| August | 436.4 | 0.3 | 4.2 | 0.8 | 2.4 | 0.9 |
| September | 438.5 | 0.5 | 5.9 | 2.0 | 2.7 | 1.8 |
| October | 438.5 | 0.0 | 0.0 | 3.4 | 2.2 | 1.8 |
| November | 438.4 | 0.0 | -0.3 | 1.8 | 1.3 | 2.1 |
| December | 439.0 | 0.1 | 1.7 | 0.5 | 1.2 | 1.9 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||