Iceland Inflation Rate

Last updated: 2022-09-08

Annual inflation

9.74%

YoY ending in Aug 2022

Monthly inflation

0.28%

August 2022

The graph above shows the annual inflation rates in Iceland for the previous 10 calendar years, from 2012. For additional years, see the historical inflation rates. To calculate cumulative rates between two different periods, you can use the Iceland Inflation Calculator.

The current inflation rate in Iceland is 9.74%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in August 2022.

In August 2022, the monthly inflation rate was 0.28.

The following table contains recent YoY (Year-over-Year) and MoM (Month-over-Month) values.

Year Measure Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022 YoY 5.68 6.19 6.67 7.23 7.59 8.82 9.93 9.74
MoM 0.49 1.16 0.95 1.23 0.77 1.40 1.18 0.28
2021 YoY 4.30 4.05 4.34 4.55 4.44 4.25 4.26 4.27 4.35 4.54 4.84 5.11
MoM -0.05 0.68 0.49 0.70 0.44 0.26 0.16 0.46 0.46 0.61 0.34 0.46

Historical Annual Inflation Rates from 1956

The table below contains annual inflation rates in Iceland from 1956. The 'Inflation %' column indicates how much prices have changed since the previous year.

The 5-year and 10-year columns display the rolling average of the yearly inflation. For example, the 5-year avg. on the first row indicates that between 2016 and 2021, the average inflation rate was 2.95%. These values can be useful for long-term analysis and forecasting.

You can click or tap the table’s headers to sort the information.

Year Inflation 5-year Avg. 10-year Avg.
1956 6.98 - -
1957 3.26 - -
1958 14.74 - -
1959 -8.26 - -
1960 3.00 - -
1961 11.65 3.54 -
1962 9.57 4.85 -
1963 15.87 6.22 -
1964 13.01 9.81 -
1965 9.09 10.93 -
1966 8.33 12.17 7.77
1967 7.18 10.57 7.67
1968 18.07 11.02 8.59
1969 18.42 11.48 10.64
1970 11.85 12.71 11.82
1971 3.97 11.90 12.03
1972 11.46 13.27 11.91
1973 33.14 14.45 12.72
1974 51.93 18.11 14.75
1975 40.11 24.80 18.60
1976 33.10 30.23 20.71
1977 33.33 34.76 23.55
1978 39.29 39.41 26.31
1979 56.41 39.78 28.49
1980 55.74 41.46 32.87
1981 49.47 45.46 37.63
1982 60.56 49.66 42.01
1983 76.32 57.22 48.05
1984 18.91 54.14 46.79
1985 35.98 48.60 44.98
1986 13.54 42.28 43.86
1987 24.39 35.63 42.47
1988 20.59 25.69 40.58
1989 25.20 23.69 38.08
1990 7.22 20.43 33.78
1991 7.54 17.25 29.16
1992 1.46 14.26 24.49
1993 4.73 10.01 17.59
1994 0.53 6.26 14.65
1995 1.99 3.58 11.69
1996 2.05 2.69 9.73
1997 2.11 2.26 8.09
1998 1.18 1.79 5.82
1999 5.54 2.12 4.17
2000 4.24 2.81 3.20
2001 8.63 3.63 3.16
2002 1.99 4.31 3.28
2003 2.77 4.39 3.08
2004 3.88 4.38 3.24
2005 4.11 4.15 3.48
2006 7.03 4.20 3.92
2007 5.83 4.18 4.24
2008 18.14 6.26 5.32
2009 7.49 8.03 6.19
2010 2.48 8.32 6.21
2011 5.25 7.77 5.97
2012 4.20 7.79 5.97
2013 4.14 6.05 6.16
2014 0.83 4.09 6.04
2015 2.01 3.34 5.80
2016 1.89 2.88 5.29
2017 1.87 2.20 4.96
2018 3.74 1.96 3.99
2019 2.03 2.16 3.12
2020 3.58 2.40 2.87
2021 5.11 2.95 2.91

More historical data →