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 2023 was 8.74%, a 0.43% increase from 2022.
- 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 - Historical Data |
| Year |
Inflation Rate (%) |
Annual Change |
| 2023 |
8.74% |
0.43% |
| 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% |
