Inflation Iceland 2017
Average inflation: 1.7%
Current Inflation
Inflation is low at 1.7%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in January at 1.9%. The lowest inflation was in September at 1.4%.
- Highest month
- January: 1.9%
- Lowest month
- September: 1.4%
- Difference
- 0.5 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 11.9%. The lowest price increase was in Communication with an average of -16.2%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 11.9%
- Lowest increase
- Communication: -16.2%
Historical Context
Current inflation is around the 5-year average of 2.2%. This approaches the lowest level since records began (1.6% in 2015).
- 5-year average
- 2.2%
- 10-year average
- 5%
- All-time high (2008)
- 12.6%
- All-time low (2015)
- 1.6%
Trend
Inflation has remained relatively stable. Compared to 2016, the difference is minimal (+0.0 percentage point).
- Change vs. previous year
- +0.0 percentage points
- Largest monthly swing
- July: +0.7 percentage points
ECB Target
Inflation is 0.3% 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 €101.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2017
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2016 |
|---|---|---|
| January | 1.9% | -0.2 |
| February | 1.9% | -0.3 |
| March | 1.6% | +0.1 |
| April | 1.9% | +0.3 |
| May | 1.7% | 0.0 |
| June | 1.5% | -0.1 |
| July | 1.8% | +0.7 |
| August | 1.7% | +0.7 |
| September | 1.4% | -0.4 |
| October | 1.9% | +0.1 |
| November | 1.7% | -0.4 |
| December | 1.9% | 0.0 |
| Average | 1.7% |
Data source
Data from OECD. Last updated: 11/01/2026.