Iceland Inflation Rate 1960-2024

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.
  • Iceland inflation rate for 2022 was 8.31%, a 3.86% increase from 2021.
  • Iceland inflation rate for 2021 was 4.44%, a 1.6% increase from 2020.
  • Iceland inflation rate for 2020 was 2.85%, a 0.17% decline from 2019.
  • Iceland inflation rate for 2019 was 3.01%, a 0.33% increase from 2018.
Data Source: World Bank

MLA Citation:
Similar Country Ranking
Country Name Inflation Rate (%)
Lithuania 19.71%
Estonia 19.40%
Latvia 17.31%
Czech Republic 15.10%
Hungary 14.61%
Poland 14.43%
Slovak Republic 12.77%
Palau 12.35%
Chile 11.64%
Croatia 10.78%
Netherlands 10.00%
Greece 9.65%
Belgium 9.60%
Uruguay 9.10%
Slovenia 8.83%
Austria 8.55%
Cyprus 8.40%
Spain 8.39%
Sweden 8.37%
Iceland 8.31%
Italy 8.20%
United States 8.00%
United Kingdom 7.92%
Portugal 7.83%
Ireland 7.81%
Denmark 7.70%
Antigua and Barbuda 7.53%
New Zealand 7.17%
Finland 7.12%
Germany 6.87%
Canada 6.80%
Australia 6.59%
Luxembourg 6.34%
Malta 6.15%
Singapore 6.12%
Norway 5.76%
Bahamas 5.61%
France 5.22%
South Korea 5.09%
Qatar 5.00%
UAE 4.83%
Israel 4.39%
Brunei 3.68%
Bahrain 3.63%
Panama 2.86%
Switzerland 2.84%
Oman 2.81%
St. Kitts and Nevis 2.67%
Japan 2.50%
Saudi Arabia 2.47%
Hong Kong 1.88%
Macao 1.05%
Iceland Inflation Rate - Historical Data
Year Inflation Rate (%) Annual Change
2022 8.31% 3.86%
2021 4.44% 1.60%
2020 2.85% -0.17%
2019 3.01% 0.33%
2018 2.68% 0.92%
2017 1.76% 0.06%
2016 1.70% 0.06%
2015 1.63% -0.41%
2014 2.04% -1.83%
2013 3.87% -1.31%
2012 5.19% 1.18%
2011 4.00% -1.40%
2010 5.40% -6.61%
2009 12.00% -0.69%
2008 12.69% 7.64%
2007 5.05% -1.64%
2006 6.69% 2.70%
2005 3.99% 0.83%
2004 3.16% 1.10%
2003 2.06% -3.14%
2002 5.20% -1.21%
2001 6.41% 1.27%
2000 5.14% 1.90%
1999 3.23% 1.57%
1998 1.66% -0.16%
1997 1.82% -0.45%
1996 2.26% 0.61%
1995 1.65% 0.10%
1994 1.55% -2.49%
1993 4.04% 0.10%
1992 3.95% -2.86%
1991 6.81% -8.70%
1990 15.51% -5.25%
1989 20.76% -4.97%
1988 25.73% 7.43%
1987 18.30% -3.83%
1986 22.13% -9.87%
1985 31.99% 1.14%
1984 30.85% -53.10%
1983 83.95% 33.71%
1982 50.24% -1.55%
1981 51.79% -6.74%
1980 58.53% 14.08%
1979 44.44% 0.69%
1978 43.75% 13.43%
1977 30.32% -1.72%
1976 32.04% -17.33%
1975 49.36% 6.85%
1974 42.52% 21.16%
1973 21.35% 11.54%
1972 9.81% 3.08%
1971 6.73% -6.64%
1970 13.37% -8.39%
1969 21.76% 6.53%
1968 15.23% 11.91%
1967 3.32% -7.37%
1966 10.69% 3.37%
1965 7.32% -11.93%
1964 19.25% 6.32%
1963 12.93% 1.91%
1962 11.02% 6.30%
1961 4.71% 2.72%
1960 1.99% 2.72%