The Consumer Price Index (CPI) based on prices in March 2024, is 620.3 points (May 1988=100), 0.80% higher than in the previous month. The CPI less housing cost is 504.4 points, 0.48% higher than in February 2024.
Cost of owner occupied housing (imputed rent) increased by 2.1% (effect on index 0.40%) while prices of international airfares increased by 9,9% (0,16%).
The CPI is 6.8% higher in March 2024 than in March 2023 and the CPI less housing cost is 4.7% higher than one year ago.
The CPI compiled in the middle of March 2024, 620.3 points, is applicable for indexation purposes in May 2024.
Rental equivalence will be introduced for owner occupied housing in June
Statistics Iceland has for some time been working on a revision of methods for evaluating the imputed rent for owner occupied housing in the consumer price index. Starting next June, method of rental equivalence will be used for calculating the imputed rent for housing in the consumer price index. The results published on June 27 2024 will therefore be based on the new method. A report in Icelandic was published 26 March. An English translation will be available in April.