The Consumer Price Index based on prices in January 2014 is 415.9 points (May 1988=100), 0.72% lower than in December 2013. The CPI less housing cost is 391.5 points, 1.09% lower than in December.
Winter sales led to a 10.8% decrease in prices of clothing and footwear (effect on the index -0.55%) and a 2.8% (-0.13%) decrease in prices of household equipment. International airfares declined by 14.6% (-0.21%) between months and prices of petrol and diesel oil by 2.5% (-0.14%). Cost of housing, water, electricity and heating rose by 0.6% (0.17%).
The CPI is 3.1% higher in January 2014 than in January 2013 and the CPI less housing cost is 1.9% higher than one year ago. Over the last three months, the CPI has increased by 0.2%, equivalent to an annual inflation rate of 0.7% (2.2% deflation for the CPI less housing cost).
The CPI compiled in the middle of January 2014, 415.9 points, is applicable for indexation purposes in March 2014. The old credit terms index for March 2014 is 8,212 points.
| Consumer price index by economic categories 2013-2014 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| December | January | % | ||
| Consumer Price Index | 234.7 | 233.0 | 3.1 | 3.1 |
| Thereof: | ||||
| Domestic goods and vegetables | 213.3 | 213.9 | 3.8 | 0.5 |
| Agricultural products | 201.6 | 203.2 | 5.7 | 0.4 |
| Domestic goods less agricultural products | 221.4 | 221.0 | 2.1 | 0.1 |
| Imported goods | 203.2 | 198.2 | -0.1 | 0.0 |
| Imported goods less, alcohol and tobacco | 194.8 | 189.2 | -0.3 | -0.1 |
| Groceries (perishable items) | 211.1 | 211.6 | 3.1 | 0.5 |
| The Icelandic consumer price index 2013-2014 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2013 | ||||||
| January | 403.3 | 0.3 | 3.3 | 2.6 | 3.1 | 4.2 |
| February | 409.9 | 1.6 | 21.5 | 8.1 | 6.8 | 4.8 |
| March | 410.7 | 0.2 | 2.4 | 8.7 | 5.6 | 3.9 |
| April | 411.5 | 0.2 | 2.4 | 8.4 | 5.5 | 3.3 |
| May | 411.3 | 0.0 | -0.6 | 1.4 | 4.7 | 3.3 |
| June | 413.5 | 0.5 | 6.6 | 2.8 | 5.7 | 3.3 |
| July | 412.4 | -0.3 | -3.1 | 0.9 | 4.6 | 3.8 |
| August | 413.8 | 0.3 | 4.2 | 2.5 | 1.9 | 4.3 |
| September | 415.2 | 0.3 | 4.1 | 1.7 | 2.2 | 3.9 |
| October | 415.2 | 0.0 | 0.0 | 2.7 | 1.8 | 3.6 |
| November | 416.7 | 0.4 | 4.4 | 2.8 | 2.6 | 3.7 |
| December | 418.9 | 0.5 | 6.5 | 3.6 | 2.6 | 4.2 |
| 2014 | ||||||
| January | 415.9 | -0.7 | -8.3 | 0.7 | 1.7 | 3.1 |
| Percentage changes, not seasonally adjusted. | ||||||
Statistics