Inflation Iceland 1996
Average inflation: 2.3%
Inflation in 1996
Inflation is normal at 2.3%, around the ECB target.
Peak and Trough
The highest inflation was in May at 2.8%. The lowest inflation was in January at 1.7%.
- Highest month
- May: 2.8%
- Lowest month
- January: 1.7%
- Difference
- 1.1 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is around the 5-year average of 2.7%.
- 5-year average
- 2.7%
- 10-year average
- 7.1%
- All-time high (1989)
- 20.7%
- All-time low (1994)
- 1.6%
Trend
Over the period 1994-1996, inflation has remained relatively stable. Compared to 1995, inflation has risen by 0.6 percentage points.
- Change vs. previous year
- +0.6 percentage points
- Largest monthly swing
- May: +1.5 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
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 102 next year at this inflation rate.
Multi-year trend
Monthly figures 1996
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1995 |
|---|---|---|
| January | 1.7% | +0.1 |
| February | 1.7% | 0.0 |
| March | 2.1% | +0.7 |
| April | 2.3% | +1.1 |
| May | 2.8% | +1.5 |
| June | 2.5% | +1.1 |
| July | 2.4% | +1.0 |
| August | 2.7% | +0.9 |
| September | 2.6% | +0.8 |
| October | 2.0% | -0.4 |
| November | 2.5% | +0.4 |
| December | 2.0% | 0.0 |
| Average | 2.3% |
Data source
Data from OECD. Last updated: 17/12/2025.