The Consumer Price Index (CPI) based on prices in November 2016 is 438.4 points (May 1988=100) which is 0.02% lower than in the previous month. The CPI less housing cost is 393.4 points, 0.41% lower than in October.
The cost of owner occupied housing (imputed rent) rose by 1.4% (effect on the index 0.22%). Prices of food and non-alcoholic beverages decreased by 0.7% (-0.10%) and international airfares decreased by 9.3% (-0.10%).
The CPI is 2.1% higher in November 2016 than in November 2015 while the CPI less housing cost has decreased by 0.3% from one year ago.
The CPI compiled in the middle of November 2016, 438.4 points, is applicable for indexation purposes in January 2017. The old credit terms index for January 2017 is 8,656 points.
| Consumer price index by economic categories 2016 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| October | October | % | ||
| Consumer Price Index | 245.7 | 245.6 | 2.1 | 2.1 |
| Thereof: | ||||
| Domestic goods and vegetables | 224.6 | 223.6 | 1.2 | 0.2 |
| Agricultural products | 212.0 | 210.1 | 0.8 | 0.1 |
| Domestic goods less agricultural products | 233.5 | 233.3 | 1.7 | 0.1 |
| Imported goods | 187.0 | 186.1 | -2.9 | -1.0 |
| Imported goods less, alcohol and tobacco | 177.0 | 176.1 | -3.4 | -1.1 |
| Groceries (perishable items) | 215.4 | 213.5 | -0.6 | -0.1 |
| The Icelandic consumer price index 2015-2016 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2015 | ||||||
| November | 429.4 | -0.3 | -4.1 | -2.7 | 0.6 | 2.0 |
| December | 430.8 | 0.3 | 4.0 | 0.2 | 0.7 | 2.0 |
| 2016 | ||||||
| January | 428.3 | -0.6 | -6.7 | -2.4 | -0.8 | 2.1 |
| February | 431.2 | 0.7 | 8.4 | 1.7 | -0.5 | 2.2 |
| March | 432.8 | 0.4 | 4.5 | 1.9 | 1.0 | 1.5 |
| April | 433.7 | 0.2 | 2.5 | 5.1 | 1.3 | 1.6 |
| May | 435.5 | 0.4 | 5.1 | 4.0 | 2.9 | 1.7 |
| 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 |
| Percentage changes, not seasonally adjusted. | ||||||