Inflation Iceland 1997
Average inflation: 1.8%
Inflation in 1997
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
Historical Context
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
Over the period 1995-1997, inflation has remained relatively stable. Compared to 1996, inflation has fallen by 0.5 percentage points.
- 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 ISK 100 this year will cost approximately ISK 102 next year at this inflation rate.
Multi-year trend
Monthly figures 1997
Inflation by category
Food and non-alcoholic beverages
3.3%
+1.5 vs avg.
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.