Inflation Iceland 1993
Average inflation: 4.1%
Current Inflation
Inflation is high at 4.1%, well above the ECB target.
Peak and Trough
The highest inflation was in November at 5.9%. The lowest inflation was in January at 2.4%.
- Highest month
- November: 5.9%
- Lowest month
- January: 2.4%
- Difference
- 3.5 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 2.3%. The lowest price increase was in Food and non-alcoholic beverages with an average of 2.3%.
- Highest increase
- Food and non-alcoholic beverages: 2.3%
- Lowest increase
- Food and non-alcoholic beverages: 2.3%
Historical Context
Current inflation is 6.2% lower than the 5-year average of 10.3%. This approaches the lowest level since records began (4.0% in 1992).
- 5-year average
- 10.3%
- 10-year average
- 10.3%
- All-time high (1989)
- 20.7%
- All-time low (1992)
- 4%
Trend
Inflation shows a downward trend. Compared to 1992, inflation has fallen by +0.1 percentage point.
- Change vs. previous year
- +0.1 percentage points
- Largest monthly swing
- November: +5.1 percentage points
ECB Target
Inflation is 2.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €104.10 next year at this inflation rate.
Multi-year trend
Monthly figures 1993
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1992 |
|---|---|---|
| January | 2.4% | -4.8 |
| February | 3.0% | -3.9 |
| March | 3.0% | -3.9 |
| April | 3.3% | -3.1 |
| May | 3.6% | -1.4 |
| June | 3.1% | -0.9 |
| July | 3.9% | +0.4 |
| August | 4.8% | +2.1 |
| September | 5.2% | +3.2 |
| October | 5.8% | +4.5 |
| November | 5.9% | +5.1 |
| December | 4.7% | +3.2 |
| Average | 4.1% |
Data source
Data from OECD. Last updated: 17/12/2025.