Inflation Iceland 2019
Average inflation: 3.0%
Current Inflation
Inflation is high at 3.0%, well above the ECB target.
Peak and Trough
The highest inflation was in May at 3.6%. The lowest inflation was in December at 2.0%.
- Highest month
- May: 3.6%
- Lowest month
- December: 2.0%
- Difference
- 1.6 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 3.8%. The lowest price increase was in Communication with an average of -4.1%.
- Highest increase
- Food and non-alcoholic beverages: 3.8%
- Lowest increase
- Communication: -4.1%
Historical Context
Current inflation is 0.9% higher than the 5-year average of 2.1%.
- 5-year average
- 2.1%
- 10-year average
- 3.1%
- All-time high (2008)
- 12.6%
- All-time low (2015)
- 1.6%
Trend
Inflation shows an upward trend. Compared to 2018, inflation has risen by +0.3 percentage point.
- Change vs. previous year
- +0.3 percentage points
- Largest monthly swing
- December: -1.7 percentage points
ECB Target
Inflation is 1.0% 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 €103.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2019
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2018 |
|---|---|---|
| January | 3.4% | +1.0 |
| February | 3.0% | +0.8 |
| March | 2.9% | +0.1 |
| April | 3.3% | +1.0 |
| May | 3.6% | +1.6 |
| June | 3.3% | +0.7 |
| July | 3.1% | +0.4 |
| August | 3.2% | +0.6 |
| September | 3.0% | +0.3 |
| October | 2.8% | 0.0 |
| November | 2.7% | -0.6 |
| December | 2.0% | -1.7 |
| Average | 3.0% |
Data source
Data from OECD. Last updated: 11/01/2026.