Inflation Iceland 1991
Average inflation: 6.8%
Current Inflation
Inflation is very high at 6.8%, far above the ECB target.
Peak and Trough
The highest inflation was in October at 8.2%. The lowest inflation was in March at 5.3%.
- Highest month
- October: 8.2%
- Lowest month
- March: 5.3%
- Difference
- 2.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 2.6%. The lowest price increase was in Food and non-alcoholic beverages with an average of 2.6%.
- Highest increase
- Food and non-alcoholic beverages: 2.6%
- Lowest increase
- Food and non-alcoholic beverages: 2.6%
Historical Context
Current inflation is 7.7% lower than the 5-year average of 14.5%. This approaches the lowest level since records began (6.8% in 1991).
- 5-year average
- 14.5%
- 10-year average
- 14.5%
- All-time high (1989)
- 20.7%
- All-time low (1991)
- 6.8%
Trend
Inflation shows a downward trend. Compared to 1990, inflation has fallen by +9.1 percentage point.
- Change vs. previous year
- -9.1 percentage points
- Largest monthly swing
- February: -17.9 percentage points
ECB Target
Inflation is 4.8% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €106.80 next year at this inflation rate.
Multi-year trend
Monthly figures 1991
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1990 |
|---|---|---|
| January | 7.3% | -16.4 |
| February | 6.0% | -17.9 |
| March | 5.3% | -16.3 |
| April | 5.5% | -13.8 |
| May | 5.8% | -12.3 |
| June | 6.5% | -9.0 |
| July | 6.6% | -8.9 |
| August | 7.1% | -7.1 |
| September | 7.7% | -4.3 |
| October | 8.2% | -1.9 |
| November | 8.0% | -1.2 |
| December | 7.5% | +0.3 |
| Average | 6.8% |
Data source
Data from OECD. Last updated: 17/12/2025.