Inflation Iceland 2015
Average inflation: 1.6%
Current Inflation
Inflation is low at 1.6%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in August at 2.2%. The lowest inflation was in January at 0.8%.
- Highest month
- August: 2.2%
- Lowest month
- January: 0.8%
- Difference
- 1.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Housing, water, electricity, gas and other fuels with an average of 6.0%. The lowest price increase was in Transport with an average of -5.3%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 6.0%
- Lowest increase
- Transport: -5.3%
Historical Context
Current inflation is 1.7% lower than the 5-year average of 3.3%. This approaches the lowest level since records began (1.6% in 2015).
- 5-year average
- 3.3%
- 10-year average
- 5.9%
- All-time high (2008)
- 12.6%
- All-time low (2015)
- 1.6%
Trend
Inflation shows a downward trend. Compared to 2014, inflation has fallen by +0.4 percentage point.
- Change vs. previous year
- -0.4 percentage points
- Largest monthly swing
- January: -2.3 percentage points
ECB Target
Inflation is 0.4% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
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 €101.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2015
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2014 |
|---|---|---|
| January | 0.8% | -2.3 |
| February | 0.8% | -1.3 |
| March | 1.6% | -0.6 |
| April | 1.4% | -0.9 |
| May | 1.6% | -0.8 |
| June | 1.5% | -0.7 |
| July | 1.9% | -0.5 |
| August | 2.2% | 0.0 |
| September | 1.9% | +0.1 |
| October | 1.8% | -0.1 |
| November | 2.0% | +1.0 |
| December | 2.0% | +1.2 |
| Average | 1.6% |
Data source
Data from OECD. Last updated: 11/01/2026.