Annual inflation
5.07%
YoY ending in Oct 2024
Monthly inflation
0.29%
October 2024
The graph above shows the annual inflation rates in Iceland for the previous 10 calendar years, from 2014. 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 5.07%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in October 2024.
In October 2024, the monthly inflation rate was 0.29.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | YoY | 6.66 | 6.60 | 6.81 | 6.02 | 6.21 | 5.83 | 6.27 | 6.03 | 5.40 | 5.07 | ||
| MoM | -0.18 | 1.34 | 0.79 | 0.56 | 0.56 | 0.49 | 0.45 | 0.09 | -0.24 | 0.29 | |||
| 2023 | YoY | 9.94 | 10.20 | 9.81 | 9.89 | 9.47 | 8.87 | 7.65 | 7.69 | 7.96 | 7.90 | 8.01 | 7.75 |
| MoM | 0.85 | 1.40 | 0.59 | 1.31 | 0.39 | 0.85 | 0.04 | 0.33 | 0.35 | 0.61 | 0.38 | 0.42 |
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 2018 and 2023, the average inflation rate was 5.44%. 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 | 4.85 | - |
| 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 |
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