Inflation Iceland 1997
Average inflation: 1.8%
Current Inflation
Inflation is low at 1.8%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in April at 2.2%. The lowest inflation was in May at 1.5%.
- Highest month
- April: 2.2%
- Lowest month
- May: 1.5%
- Difference
- 0.7 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 3.3%. The lowest price increase was in Food and non-alcoholic beverages with an average of 3.3%.
- Highest increase
- Food and non-alcoholic beverages: 3.3%
- Lowest increase
- Food and non-alcoholic beverages: 3.3%
Historical Context
Current inflation is around the 5-year average of 2.3%.
- 5-year average
- 2.3%
- 10-year average
- 6.5%
- All-time high (1989)
- 20.7%
- All-time low (1994)
- 1.6%
Trend
Inflation has remained relatively stable. Compared to 1996, the difference is minimal (-0.5 percentage point).
- Change vs. previous year
- -0.5 percentage points
- Largest monthly swing
- May: -1.3 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.80 next year at this inflation rate.
Multi-year trend
Monthly figures 1997
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1996 |
|---|---|---|
| January | 2.0% | +0.3 |
| February | 1.8% | +0.1 |
| March | 1.6% | -0.5 |
| April | 2.2% | -0.1 |
| May | 1.5% | -1.3 |
| June | 1.8% | -0.7 |
| July | 1.9% | -0.5 |
| August | 1.5% | -1.2 |
| September | 1.6% | -1.0 |
| October | 1.9% | -0.1 |
| November | 1.7% | -0.8 |
| December | 2.1% | +0.1 |
| Average | 1.8% |
Data source
Data from OECD. Last updated: 17/12/2025.