Inflation Iceland 2014
Average inflation: 2.0%
Current Inflation
Inflation is normal at 2.0%, around the ECB target.
Peak and Trough
The highest inflation was in January at 3.1%. The lowest inflation was in December at 0.8%.
- Highest month
- January: 3.1%
- Lowest month
- December: 0.8%
- Difference
- 2.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 6.1%. The lowest price increase was in Transport with an average of -1.7%.
- Highest increase
- Education: 6.1%
- Lowest increase
- Transport: -1.7%
Historical Context
Current inflation is 2.1% lower than the 5-year average of 4.1%.
- 5-year average
- 4.1%
- 10-year average
- 6.1%
- All-time high (2008)
- 12.6%
- All-time low (1998)
- 1.7%
Trend
Inflation shows a downward trend. Compared to 2013, inflation has fallen by +1.9 percentage point.
- Change vs. previous year
- -1.9 percentage points
- Largest monthly swing
- December: -3.3 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 €100 this year will cost approximately €102.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2014
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2013 |
|---|---|---|
| January | 3.1% | -1.1 |
| February | 2.1% | -2.7 |
| March | 2.2% | -1.8 |
| April | 2.3% | -1.0 |
| May | 2.4% | -0.9 |
| June | 2.2% | -1.2 |
| July | 2.4% | -1.4 |
| August | 2.2% | -2.1 |
| September | 1.8% | -2.1 |
| October | 1.9% | -1.7 |
| November | 1.0% | -2.7 |
| December | 0.8% | -3.3 |
| Average | 2.0% |
Data source
Data from OECD. Last updated: 11/01/2026.