Iceland Historical Inflation Rates

The graph above displays annual inflation rates in Iceland for calendar years from 1956 to 2021. To calculate cumulative rates between two different periods, you can use the Iceland Inflation Calculator.

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.

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

Monthly Inflation Rates (YoY) | 1956-2022

The following table contains YoY (year-over-year) inflation rates calculated from monthly CPI data publications. The value of each month indicates the rolling average inflation rate for the last 12 months.

This information is particularly useful to track inflation for the current year as it's not possible to calculate the final value until the year is over.

The values on the December column are equivalent to annual inflation rates. For example, the 5.11% rate shown under 2021 and December matches the value shown in the table above as the annual inflation rate.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg.
1956 8.75 8.75 10.00 11.25 12.50 11.11 12.20 12.20 12.20 8.24 6.98 6.98 10.09
1957 5.75 5.75 5.68 5.62 4.44 4.44 3.26 3.26 3.26 3.26 3.26 3.26 4.27
1958 3.26 3.26 2.15 1.06 1.06 2.13 4.21 5.26 6.32 12.63 13.68 14.74 5.81
1959 10.53 7.37 5.26 5.26 5.26 4.17 1.01 0.00 -0.99 -6.54 -7.41 -8.26 1.31
1960 -4.76 -1.96 1.00 4.00 5.00 5.00 3.00 4.00 1.00 2.00 3.00 3.00 2.02
1961 4.00 4.00 2.97 0.00 -0.95 -0.95 1.94 1.92 8.91 11.76 11.65 11.65 4.74
1962 11.54 11.54 11.54 11.54 11.54 11.54 11.43 13.21 10.91 9.65 8.70 9.57 11.06
1963 10.34 10.34 11.21 12.07 12.93 12.93 12.82 10.83 13.11 15.20 16.80 15.87 12.87
1964 16.41 19.53 22.48 23.85 24.43 24.43 23.48 22.56 18.12 13.19 11.64 13.01 19.43
1965 12.08 9.80 6.33 4.97 4.91 4.91 4.91 5.52 6.75 8.59 10.43 9.09 7.36
1966 8.98 8.93 9.52 9.47 11.70 11.70 12.28 13.37 13.79 11.86 8.33 8.33 10.69
1967 7.14 6.56 5.98 5.41 2.09 2.09 1.56 0.00 -1.52 -1.52 5.64 7.18 3.39
1968 11.01 12.12 14.34 14.34 14.34 15.45 15.45 16.56 16.56 19.89 14.53 18.07 15.22
1969 19.00 19.80 18.45 19.42 21.36 23.08 25.00 24.76 25.71 23.15 22.94 18.42 21.76
1970 13.45 13.22 13.93 14.63 12.80 11.72 11.54 12.21 14.39 15.79 14.93 11.85 13.37
1971 13.33 11.68 10.79 9.22 9.93 8.39 6.90 4.76 1.99 0.65 1.30 3.97 6.91
1972 1.31 2.61 5.19 8.44 9.68 12.26 12.26 13.64 14.29 13.55 12.82 11.46 9.79
1973 14.19 16.56 19.14 19.76 18.24 17.82 18.97 20.00 21.02 27.27 28.41 33.14 21.21
1974 35.03 32.24 35.75 40.50 43.78 38.05 40.58 41.43 44.60 49.55 51.33 51.93 42.06
1975 50.21 53.72 52.67 48.75 47.40 54.77 53.95 54.55 52.92 44.48 43.57 40.11 49.76
1976 40.11 35.22 25.75 35.38 32.83 29.20 33.33 30.13 33.49 29.91 28.05 33.10 32.21
1977 31.25 37.50 37.50 27.78 27.78 27.78 26.32 26.32 25.00 30.00 35.00 33.33 30.46
1978 38.10 36.36 40.91 39.13 43.48 47.83 45.83 54.17 48.00 46.15 44.44 39.29 43.64
1979 37.93 36.67 35.48 37.50 39.39 41.18 45.71 40.54 45.95 52.63 56.41 56.41 43.82
1980 60.00 60.98 61.90 63.64 63.04 62.50 56.86 57.69 61.11 55.17 49.18 55.74 58.98
1981 60.94 57.58 57.35 55.56 50.67 52.56 52.50 50.00 47.13 45.56 48.35 49.47 52.30
1982 40.78 42.31 45.79 45.54 45.13 45.38 45.90 49.59 55.47 58.78 60.00 60.56 49.60
1983 63.45 67.57 75.64 79.75 87.20 94.22 96.07 102.17 88.44 86.06 83.80 76.32 83.39
1984 70.89 64.52 50.36 42.66 37.46 28.57 24.93 18.82 18.67 16.28 14.86 18.91 33.91
1985 23.21 26.47 28.64 28.95 30.33 29.63 31.65 33.71 36.18 37.78 39.04 35.98 31.80
1986 34.07 32.56 27.17 25.79 25.45 23.93 21.43 19.29 17.66 15.48 15.30 13.54 22.64
1987 12.86 11.99 15.43 16.22 15.65 17.29 18.79 20.43 20.34 21.79 23.12 24.39 18.19
1988 26.09 25.33 24.55 24.75 25.31 27.03 29.23 28.74 28.21 26.61 22.78 20.59 25.77
1989 18.28 18.96 21.16 21.97 22.30 21.76 18.50 17.57 19.18 21.11 22.81 25.20 20.73
1990 23.71 23.91 21.55 19.35 18.07 15.49 15.46 14.24 11.98 10.10 9.21 7.22 15.86
1991 7.32 6.01 5.33 5.52 5.82 6.53 6.56 7.08 7.70 8.22 7.96 7.54 6.80
1992 7.16 6.93 6.85 6.36 5.04 4.00 3.46 2.67 2.02 1.32 0.78 1.46 4.01
1993 2.43 2.97 2.96 3.29 3.58 3.08 3.88 4.77 5.16 5.76 5.86 4.73 4.04
1994 3.15 2.59 2.59 2.37 2.15 2.36 1.60 0.74 0.74 0.00 0.00 0.53 1.57
1995 1.58 1.68 1.37 1.16 1.26 1.36 1.36 1.78 1.77 2.40 2.09 1.99 1.65
1996 1.66 1.66 2.07 2.28 2.80 2.48 2.38 2.67 2.56 2.04 2.46 2.05 2.26
1997 2.04 1.83 1.63 2.23 1.51 1.82 1.92 1.50 1.60 1.90 1.70 2.11 1.82
1998 2.20 2.00 2.40 1.79 2.29 2.28 1.78 0.99 0.79 0.98 1.28 1.18 1.66
1999 1.27 1.37 1.46 1.95 1.94 2.62 3.21 4.11 4.98 5.25 5.04 5.54 3.23
2000 5.80 5.61 5.87 5.93 5.91 5.39 5.66 4.69 3.91 4.25 4.52 4.24 5.15
2001 3.56 4.03 3.82 4.43 5.58 6.82 7.07 7.99 8.51 8.05 8.13 8.63 6.39
2002 9.46 8.98 8.84 7.53 5.97 4.81 4.09 3.23 3.05 2.96 2.36 1.99 5.27
2003 1.40 1.53 2.18 2.33 2.17 1.74 1.57 2.01 2.24 2.15 2.55 2.77 2.05
2004 2.41 2.23 1.81 2.20 3.23 4.02 3.62 3.71 3.37 3.66 3.74 3.88 3.16
2005 3.96 4.51 4.64 4.31 2.90 2.80 3.42 3.57 4.77 4.66 4.20 4.11 3.99
2006 4.40 4.10 4.43 5.46 7.56 8.10 8.40 8.59 7.59 7.11 7.34 7.03 6.68
2007 6.86 7.37 5.87 5.31 4.62 3.95 3.78 3.45 4.17 4.49 5.16 5.83 5.07
2008 5.82 6.84 8.78 11.71 12.34 12.76 13.54 14.54 14.07 15.90 17.16 18.14 12.63
2009 18.57 17.56 15.17 11.89 11.66 12.18 11.31 10.91 10.81 9.71 8.64 7.49 12.16
2010 6.59 7.25 8.50 8.29 7.48 5.70 4.83 4.54 3.70 3.33 2.63 2.48 5.44
2011 1.84 1.88 2.29 2.84 3.37 4.23 5.01 5.05 5.71 5.26 5.22 5.25 4.00
2012 6.52 6.34 6.44 6.42 5.44 5.42 4.56 4.11 4.27 4.20 4.51 4.20 5.20
2013 4.19 4.84 3.95 3.34 3.31 3.36 3.83 4.35 3.90 3.63 3.67 4.14 3.87
2014 3.11 2.14 2.19 2.32 2.44 2.24 2.36 2.24 1.78 1.91 1.03 0.83 2.05
2015 0.82 0.81 1.59 1.43 1.64 1.53 1.87 2.17 1.90 1.82 1.99 2.01 1.63
2016 2.15 2.17 1.51 1.55 1.68 1.63 1.13 0.96 1.84 1.78 2.09 1.89 1.70
2017 1.92 1.95 1.63 1.95 1.73 1.54 1.83 1.74 1.38 1.86 1.73 1.87 1.76
2018 2.37 2.24 2.76 2.27 2.00 2.62 2.70 2.62 2.75 2.84 3.27 3.74 2.68
2019 3.39 2.98 2.94 3.28 3.59 3.34 3.06 3.16 2.99 2.78 2.66 2.03 3.02
2020 1.70 2.44 2.13 2.27 2.58 2.65 3.02 3.20 3.50 3.57 3.49 3.58 2.84
2021 4.30 4.05 4.34 4.55 4.44 4.25 4.26 4.27 4.35 4.54 4.84 5.11 4.44
2022 5.68 6.19 6.67 7.23 7.59 8.82 9.93 9.74 9.34 9.41 8.06

Monthly Inflation Rates (MoM) | 1956-2022

This table contains MoM (Month-over-Month) inflation rates calculated from official CPI data publications.

MoM measures are more volatile than YoY because they are influenced by short term events such changes in the monetary policy, stock market crashes or natural disasters.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg.
1956 1.16 0.00 1.15 1.14 1.12 0.00 2.22 0.00 0.00 0.00 0.00 0.00 0.57
1957 0.00 0.00 1.09 1.08 0.00 0.00 1.06 0.00 0.00 0.00 0.00 0.00 0.27
1958 0.00 0.00 0.00 0.00 0.00 1.05 3.13 1.01 1.00 5.94 0.93 0.93 1.17
1959 -3.67 -2.86 -1.96 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.71
1960 0.00 0.00 1.00 2.97 0.96 0.00 -1.90 0.97 -2.88 0.99 0.98 0.00 0.26
1961 0.97 0.00 0.00 0.00 0.00 0.00 0.96 0.95 3.77 3.64 0.88 0.00 0.93
1962 0.87 0.00 0.00 0.00 0.00 0.00 0.86 2.56 1.67 2.46 0.00 0.80 0.77
1963 1.59 0.00 0.78 0.78 0.77 0.00 0.76 0.76 3.76 4.35 1.39 0.00 1.24
1964 2.05 2.68 3.27 1.90 1.24 0.00 0.00 0.00 0.00 0.00 0.00 1.23 1.03
1965 1.21 0.60 0.00 0.60 1.18 0.00 0.00 0.58 1.16 1.72 1.69 0.00 0.73
1966 1.11 0.55 0.55 0.54 3.24 0.00 0.52 1.56 1.54 0.00 -1.52 0.00 0.68
1967 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.64 1.46 0.59
1968 3.57 1.00 1.98 0.00 0.00 0.97 0.00 0.96 0.00 2.86 0.93 4.59 1.40
1969 4.39 1.68 0.83 0.82 1.63 2.40 1.56 0.77 0.76 0.76 0.75 0.75 1.42
1970 0.00 1.48 1.46 1.44 0.00 1.42 1.40 1.38 2.72 1.99 0.00 -1.95 0.94
1971 1.32 0.00 0.65 0.00 0.65 0.00 0.00 -0.65 0.00 0.65 0.65 0.64 0.33
1972 -1.27 1.29 3.18 3.09 1.80 2.35 0.00 0.57 0.57 0.00 0.00 -0.57 0.92
1973 1.14 3.39 5.46 3.63 0.50 1.99 0.98 1.45 1.43 5.16 0.89 3.10 2.43
1974 2.58 1.26 8.26 7.25 2.85 -2.08 2.83 2.06 3.70 8.77 2.09 3.51 3.59
1975 1.41 3.62 7.53 4.50 1.91 2.82 2.28 2.46 2.61 2.76 1.45 1.02 2.86
1976 1.41 0.00 0.00 12.50 0.00 0.00 5.56 0.00 5.26 0.00 0.00 5.00 2.48
1977 0.00 4.76 0.00 4.55 0.00 0.00 4.35 0.00 4.17 4.00 3.85 3.70 2.45
1978 3.57 3.45 3.33 3.23 3.13 3.03 2.94 5.71 0.00 2.70 2.63 0.00 2.81
1979 2.56 2.50 2.44 4.76 4.55 4.35 6.25 1.96 3.85 7.41 5.17 0.00 3.82
1980 4.92 3.13 3.03 5.88 4.17 4.00 2.56 2.50 6.10 3.45 1.11 4.40 3.77
1981 8.42 0.97 2.88 4.67 0.89 5.31 2.52 0.82 4.07 2.34 3.05 5.19 3.43
1982 2.11 2.07 5.41 4.49 0.61 5.49 2.89 3.37 8.15 4.52 3.85 5.56 4.04
1983 3.95 4.64 10.48 6.93 4.78 9.45 3.87 6.59 0.81 3.20 2.58 1.26 4.88
1984 0.75 0.74 0.98 1.46 0.96 2.37 0.93 1.38 0.68 1.12 1.33 4.82 1.46
1985 4.39 3.41 2.71 1.70 2.04 1.82 2.50 2.96 2.54 2.31 2.26 2.52 2.60
1986 2.92 2.24 -1.46 0.59 1.77 0.58 0.43 1.15 1.13 0.42 2.09 0.96 1.07
1987 2.30 1.46 1.57 1.29 1.27 2.00 1.72 2.54 1.06 1.63 3.21 2.00 1.84
1988 3.70 0.84 0.94 1.44 1.73 3.40 3.48 2.15 0.64 0.36 0.09 0.18 1.58
1989 1.72 1.42 2.80 2.13 2.00 2.94 0.71 1.34 2.02 1.98 1.50 2.14 1.89
1990 0.51 1.58 0.85 0.28 0.91 0.69 0.69 0.27 0.00 0.27 0.68 0.27 0.58
1991 0.61 0.33 0.20 0.47 1.19 1.37 0.71 0.77 0.57 0.76 0.44 -0.12 0.61
1992 0.25 0.12 0.12 0.00 -0.06 0.37 0.19 0.00 -0.06 0.06 -0.10 0.55 0.12
1993 1.21 0.65 0.11 0.32 0.22 -0.11 0.97 0.85 0.32 0.63 0.00 -0.52 0.39
1994 -0.32 0.11 0.11 0.11 0.00 0.11 0.21 0.00 0.31 -0.10 0.00 0.00 0.04
1995 0.73 0.21 -0.21 -0.10 0.10 0.21 0.21 0.41 0.31 0.51 -0.31 -0.10 0.16
1996 0.41 0.20 0.20 0.10 0.61 -0.10 0.10 0.71 0.20 0.00 0.10 -0.50 0.17
1997 0.40 0.00 0.00 0.70 -0.10 0.20 0.20 0.30 0.30 0.30 -0.10 -0.10 0.17
1998 0.49 -0.20 0.39 0.10 0.39 0.19 -0.29 -0.49 0.10 0.49 0.19 -0.19 0.10
1999 0.58 -0.10 0.48 0.58 0.38 0.86 0.28 0.38 0.94 0.74 0.00 0.28 0.45
2000 0.83 -0.27 0.73 0.64 0.36 0.36 0.54 -0.54 0.18 1.07 0.27 0.00 0.35
2001 0.18 0.18 0.53 1.23 1.47 1.53 0.78 0.32 0.66 0.64 0.34 0.46 0.69
2002 0.94 -0.27 0.40 0.00 0.00 0.43 0.09 -0.51 0.48 0.56 -0.24 0.10 0.17
2003 0.36 -0.14 1.04 0.15 -0.16 0.00 -0.08 -0.08 0.71 0.47 0.16 0.31 0.23
2004 0.00 -0.31 0.62 0.54 0.85 0.76 -0.45 0.00 0.38 0.76 0.23 0.45 0.32
2005 0.07 0.22 0.74 0.22 -0.52 0.67 0.15 0.15 1.54 0.65 -0.22 0.36 0.34
2006 0.36 -0.07 1.07 1.20 1.47 1.17 0.43 0.32 0.61 0.20 0.00 0.07 0.57
2007 0.20 0.40 -0.33 0.67 0.80 0.53 0.26 0.00 1.31 0.52 0.64 0.70 0.47
2008 0.19 1.37 1.47 3.39 1.36 0.90 0.95 0.88 0.89 2.13 1.73 1.55 1.40
2009 0.55 0.51 -0.59 0.44 1.16 1.37 0.17 0.52 0.80 1.12 0.74 0.47 0.60
2010 -0.29 1.13 0.56 0.25 0.40 -0.31 -0.66 0.25 -0.01 0.76 0.05 0.33 0.21
2011 -0.91 1.17 0.96 0.79 0.91 0.52 0.09 0.28 0.62 0.33 0.02 0.35 0.43
2012 0.29 1.00 1.06 0.77 -0.01 0.50 -0.73 -0.15 0.77 0.27 0.32 0.06 0.34
2013 0.27 1.63 0.20 0.18 -0.05 0.55 -0.27 0.34 0.33 0.01 0.36 0.51 0.34
2014 -0.72 0.68 0.24 0.31 0.07 0.35 -0.15 0.23 -0.12 0.13 -0.51 0.31 0.07
2015 -0.73 0.67 1.02 0.16 0.28 0.24 0.18 0.53 -0.39 0.05 -0.34 0.33 0.17
2016 -0.60 0.69 0.37 0.20 0.41 0.18 -0.31 0.35 0.48 0.00 -0.04 0.14 0.16
2017 -0.57 0.72 0.06 0.51 0.19 0.00 -0.03 0.26 0.13 0.47 -0.16 0.28 0.16
2018 -0.08 0.59 0.56 0.03 -0.07 0.61 0.05 0.18 0.26 0.57 0.25 0.73 0.31
2019 -0.42 0.19 0.52 0.36 0.23 0.37 -0.22 0.28 0.09 0.36 0.12 0.12 0.17
2020 -0.75 0.92 0.22 0.50 0.54 0.45 0.14 0.45 0.38 0.43 0.05 0.20 0.29
2021 -0.05 0.68 0.49 0.70 0.44 0.26 0.16 0.46 0.46 0.61 0.34 0.46 0.42
2022 0.49 1.16 0.95 1.23 0.77 1.40 1.18 0.28 0.10 0.67 0.82

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