Inflation Iceland 1993
Average inflation: 4.1%
Inflation in 1993
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
Historical Context
Inflation is 6.2 percentage points 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
Over the period 1991-1993, inflation shows a downward trend. Compared to 1992, inflation has risen by 0.1 percentage points.
- Change vs. previous year
- +0.1 percentage points
- Largest monthly swing
- November: +5.1 percentage points
ECB Target
Inflation is 2.1 percentage points 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 ISK 100 this year will cost approximately ISK 104 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.