The Consumer Price Index (CPI) based on prices in September 2017 is 444.6 points (May 1988=100), 0.14% higher than in the previous month. The CPI less housing cost is 383.7 points, 0.21% lower than in August 2017.
Cost of owner occupied housing (imputed rent), rose by 1.2% (effect on the index 0.24%). Prices of clothing and footwear increased by 6.0% (0.21%). Cost of international airfares decreased by 18.8% ( 0.25%). Prices of food and non-alcoholic beverages declined by 1.3% (-0.17%)
The CPI is 1.4% higher in September 2017 than in September 2016 while the CPI less housing cost is 3.1% lower than one year ago.
The CPI compiled in the middle of September 2017, 444.6 points, is applicable for indexation purposes in November 2017. The old credit terms index for November 2017 is 8,779 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 | ||||||
| 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 |
| July | 442.9 | 0.0 | -0.3 | 0.7 | 3.0 | 1.8 |
| August | 444.0 | 0.2 | 3.0 | 0.9 | 2.0 | 1.7 |
| September | 444.6 | 0.1 | 1.6 | 1.5 | 2.1 | 1.4 |
| Percentage changes, not seasonally adjusted. | ||||||