The CPI referring to prices in the beginning of January 2008 is 282.6 points (May 1988=100), 0.28% higher than in the previous month. The CPI less housing cost is 251.1 points, 0.12% lower than in December.
Winter sales have widely started causing decrease in prices of clothing and footwear by 10.1% (effect on the index -0.46%).
Cost of owner occupied housing rose by 1.3% (0.25%). Thereof 0.15% was due to higher real interest rates and 0.1% to higher market prices of housing. Charges of dwelling-related services rose by 8.8% (0.1%) and prices of food and beverages rose by 0.9% (0.11%).
The CPI in January 2008 is 5.9% higher than in January 2007 while the CPI less housing cost is 2.4% higher than one year ago. The constant tax-rate CPI is 7.8% higher in January 2008 than in January 2007 and the constant tax-rate CPI less housing cost is 4.8% higher. Over the last three months, the CPI has risen by 1.6%, equivalent to an annual inflation rate of 6.6% (3.9% for the CPI less housing cost).
The average of the CPI in year 2007 was 273.7 points, 5.0% higher than the 2006 year’s average. Similar rise was 6.8% in 2006 and 4.0% in year 2005.
The CPI less housing cost was on average 246.7 points in year 2006, 2.5% higher than in 2006. Similar rise was 4.8% in year 2006 and 0.9% in year 2005.
The credit terms index applicable in February 2008 is 282.6 points. The old credit terms index is 5,580 points for February 2008.
The CPI referring to prices in the middle of the month will be the final CPI for January 2008. It will be published on 29 January and applied for indexation in March 2008.
| The Icelandic Consumer Price Index 2007-2008 | ||||||
| May 1988 = 100 | Annualized rates | |||||
| Monthly index | Monthly changes | Latest month | Latest 3 months | Latest 6 months | Latest 12 months | |
| 2007 | ||||||
| January | 266.9 | 0.3 | 3.2 | 1.1 | 2.9 | 6.9 |
| February | 268.0 | 0.4 | 5.1 | 2.9 | 3.1 | 7.4 |
| March | 267.1 | -0.3 | -4.0 | 1.4 | 1.1 | 5.9 |
| April | 268.7 | 0.6 | 7.4 | 2.7 | 1.9 | 5.3 |
| May | 271.0 | 0.9 | 10.8 | 4.6 | 3.7 | 4.7 |
| June | 272.4 | 0.5 | 6.4 | 8.2 | 4.7 | 4.0 |
| July | 273.0 | 0.2 | 2.7 | 6.6 | 4.6 | 3.8 |
| August | 273.1 | 0.0 | 0.4 | 3.1 | 3.8 | 3.4 |
| September | 276.7 | 1.3 | 17.0 | 6.5 | 7.3 | 4.2 |
| October | 278.1 | 0.5 | 6.2 | 7.7 | 7.1 | 4.5 |
| November | 279.9 | 0.6 | 8.0 | 10.3 | 6.7 | 5.2 |
| December | 281.8 | 0.7 | 8.5 | 7.6 | 7.0 | 5.9 |
| 2008 | ||||||
| January | 282.6 | 0.3 | 3.5 | 6.6 | 7.2 | 5.9 |
| Percentage changes, not seasonally adjusted. | ||||||
| Consumer price index by economic categories 2008 | ||||
| Subindices March 1997=100 | Change in the last 12 months | |||
| Effect on the index | ||||
| December | January | % | ||
| Consumer Price Index | 157.9 | 158.4 | 5.9% | 5.9% |
| Thereof: | ||||
| Domestic goods | 134.3 | 135.3 | -2.2% | -0.3% |
| Agricultural products | 131.0 | 131.7 | -2.3% | -0.1% |
| Domestic goods less agricultural products and vegetables | 136.3 | 137.5 | -2.1% | -0.2% |
| Imported goods | 123.4 | 122.1 | 2.6% | 0.9% |
| Imported goods less, alcohol and tobacco | 119.4 | 118.0 | 2.9% | 0.9% |
| Core index 1 (CPI less agric. prod., vegetables, | ||||
| fruits and petrol) | 159.7 | 160.0 | 5.9% | 5.3% |
| Core index 2 (core index 1 less public services) | 160.8 | 160.9 | 6.2% | 5.1% |
| Groceries (perishable items) | 127.8 | 128.7 | -3.0% | -0.5% |
Statistics