Iceland - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Iceland was 138.57 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 138.57 in 2021 and a minimum value of 0.04 in 1960.

Definition: Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1960 0.04
1961 0.04
1962 0.05
1963 0.05
1964 0.07
1965 0.07
1966 0.08
1967 0.08
1968 0.09
1969 0.11
1970 0.13
1971 0.14
1972 0.15
1973 0.18
1974 0.26
1975 0.38
1976 0.51
1977 0.66
1978 0.95
1979 1.37
1980 2.18
1981 3.30
1982 4.96
1983 9.13
1984 11.95
1985 15.77
1986 19.26
1987 22.78
1988 28.64
1989 34.59
1990 39.95
1991 42.68
1992 44.36
1993 46.15
1994 46.87
1995 47.64
1996 48.72
1997 49.61
1998 50.43
1999 52.06
2000 54.73
2001 58.24
2002 61.26
2003 62.52
2004 64.50
2005 67.07
2006 71.55
2007 75.17
2008 84.71
2009 94.88
2010 100.00
2011 104.00
2012 109.39
2013 113.63
2014 115.95
2015 117.85
2016 119.85
2017 121.96
2018 125.23
2019 129.00
2020 132.68
2021 138.57

Development Relevance: A general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.

Limitations and Exceptions: Consumer price indexes should be interpreted with caution. The definition of a household, the basket of goods, and the geographic (urban or rural) and income group coverage of consumer price surveys can vary widely by country. In addition, weights are derived from household expenditure surveys, which, for budgetary reasons, tend to be conducted infrequently in developing countries, impairing comparability over time. Although useful for measuring consumer price inflation within a country, consumer price indexes are of less value in comparing countries.

Statistical Concept and Methodology: Consumer price indexes are constructed explicitly, using surveys of the cost of a defined basket of consumer goods and services.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices