Annual inflation
5.40%
YoY ending in Mar 2026
Monthly inflation
0.59%
March 2026
The graph above shows the annual inflation rates in Iceland covering the previous 10 calendar years, starting in 2016. 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 5.40%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in March 2026.
In March 2026, the monthly inflation rate was 0.59.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | YoY | 5.19 | 5.17 | 5.40 | |||||||||
| MoM | 0.40 | 0.90 | 0.59 | ||||||||||
| 2025 | YoY | 4.65 | 4.21 | 3.78 | 4.16 | 3.78 | 4.14 | 4.01 | 3.76 | 4.11 | 4.31 | 3.70 | 4.49 |
| MoM | -0.27 | 0.92 | 0.37 | 0.93 | 0.19 | 0.84 | 0.33 | -0.15 | 0.11 | 0.47 | -0.49 | 1.16 |
The table below contains annual inflation rates in Iceland since 1956. The 'Inflation %' column indicates how much prices have changed since the previous year.
The 5-year and 10-year columns display rolling averages of annual inflation. For example, the 5-year average on the first row indicates that between 2020 and 2025, the average inflation rate was 6.27%. 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 | 4.58 | - |
| 1961 | 11.65 | 3.54 | - |
| 1962 | 9.57 | 4.86 | - |
| 1963 | 15.87 | 6.22 | - |
| 1964 | 13.01 | 9.81 | - |
| 1965 | 9.09 | 10.93 | 7.71 |
| 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 |
| 2022 | 9.55 | 4.24 | 3.21 |
| 2023 | 7.75 | 5.44 | 3.69 |
| 2024 | 4.75 | 6.02 | 4.07 |
| 2025 | 4.49 | 6.27 | 4.32 |
This data is sourced from the monthly statistical releases of the OECD (Organisation for Economic Co-operation and Development) and reflects the COICOP 2018 classification framework. While many values remain unchanged, it is expected that some historical figures may differ slightly from originally published reports as data is retroactively aligned with this framework. This ensures a consistent time series for accurate historical analysis.
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