Inflation Iceland 1999
Average inflation: 3.2%
Current Inflation
Inflation is high at 3.2%, well above the ECB target.
Peak and Trough
The highest inflation was in December at 5.5%. The lowest inflation was in January at 1.3%.
- Highest month
- December: 5.5%
- Lowest month
- January: 1.3%
- Difference
- 4.2 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 1.1% higher than the 5-year average of 2.1%.
- 5-year average
- 2.1%
- 10-year average
- 4.3%
- All-time high (1989)
- 20.7%
- All-time low (1994)
- 1.6%
Trend
Inflation shows an upward trend. Compared to 1998, inflation has risen by +1.5 percentage point.
- Change vs. previous year
- +1.5 percentage points
- Largest monthly swing
- December: +4.3 percentage points
ECB Target
Inflation is 1.2% 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 €103.20 next year at this inflation rate.
Multi-year trend
Monthly figures 1999
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1998 |
|---|---|---|
| January | 1.3% | -0.9 |
| February | 1.4% | -0.6 |
| March | 1.5% | -0.9 |
| April | 2.0% | +0.2 |
| May | 1.9% | -0.4 |
| June | 2.6% | +0.3 |
| July | 3.2% | +1.4 |
| August | 4.1% | +3.1 |
| September | 5.0% | +4.2 |
| October | 5.2% | +4.2 |
| November | 5.0% | +3.7 |
| December | 5.5% | +4.3 |
| Average | 3.2% |
Data source
Data from OECD. Last updated: 17/12/2025.