Iceland - Inflation, consumer prices (annual %) 1960 - 2022
Iceland's inflation, consumer prices (annual %) is currently 8.31%, according to the most recent World Bank data for the country (2022).
Definition
The consumer price index gauges inflation by indicating the yearly percentage shift in the expenses for an average consumer to procure a collection of goods and services, which could either remain constant or alter at specified periods like annually; typically employing the Laspeyres formula.- Iceland's inflation, consumer prices (annual %) for 2022 was 8.309%, a 86.96% increase from 2021, with a +3 difference.
- In 2021 it was 4.444%, a 56.05% increase from 2020, with a +1 difference.
- In 2020 it was 2.848%, a -5.51% increase from 2019.
- In 2019 it was 3.014%, a 12.34% increase from 2018.
- In 2018 it was 2.683%, a 52.40% increase from 2017.
Measure: Percent
Average, Lowest, and Highest Recorded Values
The average inflation, consumer prices (annual %), value for Iceland is currently 15.0463% (average of years with recorded data) with a lowest recorded value of 1.5527% in 1994 and a highest value of 83.95% in 1983.
Iceland's Inflation, consumer prices (annual %) - Historical Data
| Year | Inflation, consumer prices (annual %) | Average Growth Rate (%) |
|---|---|---|
| 1960 | 1.988% | |
| 1961 | 4.712% | 136.96% |
| 1962 | 11.016% | 133.81% |
| 1963 | 12.928% | 17.35% |
| 1964 | 19.245% | 48.86% |
| 1965 | 7.317% | -61.98% |
| 1966 | 10.687% | 46.05% |
| 1967 | 3.32% | -68.93% |
| 1968 | 15.232% | 358.76% |
| 1969 | 21.763% | 42.88% |
| 1970 | 13.372% | -38.55% |
| 1971 | 6.732% | -49.66% |
| 1972 | 9.811% | 45.74% |
| 1973 | 21.355% | 117.66% |
| 1974 | 42.516% | 99.09% |
| 1975 | 49.361% | 16.10% |
| 1976 | 32.035% | -35.10% |
| 1977 | 30.317% | -5.36% |
| 1978 | 43.75% | 44.31% |
| 1979 | 44.444% | 1.59% |
| 1980 | 58.528% | 31.69% |
| 1981 | 51.793% | -11.51% |
| 1982 | 50.243% | -2.99% |
| 1983 | 83.95% | 67.09% |
| 1984 | 30.852% | -63.25% |
| 1985 | 31.995% | 3.70% |
| 1986 | 22.128% | -30.84% |
| 1987 | 18.298% | -17.31% |
| 1988 | 25.726% | 40.59% |
| 1989 | 20.758% | -19.31% |
| 1990 | 15.511% | -25.28% |
| 1991 | 6.809% | -56.10% |
| 1992 | 3.948% | -42.02% |
| 1993 | 4.043% | 2.41% |
| 1994 | 1.553% | -61.60% |
| 1995 | 1.651% | 6.35% |
| 1996 | 2.26% | 36.89% |
| 1997 | 1.815% | -19.69% |
| 1998 | 1.659% | -8.60% |
| 1999 | 3.232% | 94.78% |
| 2000 | 5.136% | 58.93% |
| 2001 | 6.405% | 24.70% |
| 2002 | 5.197% | -18.86% |
| 2003 | 2.056% | -60.45% |
| 2004 | 3.158% | 53.63% |
| 2005 | 3.987% | 26.24% |
| 2006 | 6.687% | 67.72% |
| 2007 | 5.052% | -24.46% |
| 2008 | 12.694% | 151.30% |
| 2009 | 12.003% | -5.45% |
| 2010 | 5.397% | -55.04% |
| 2011 | 4.001% | -25.86% |
| 2012 | 5.186% | 29.61% |
| 2013 | 3.872% | -25.33% |
| 2014 | 2.045% | -47.20% |
| 2015 | 1.633% | -20.13% |
| 2016 | 1.697% | 3.91% |
| 2017 | 1.76% | 3.74% |
| 2018 | 2.683% | 52.40% |
| 2019 | 3.014% | 12.34% |
| 2020 | 2.848% | -5.51% |
| 2021 | 4.444% | 56.05% |
| 2022 | 8.309% | 86.96% |
Expand
Comparison with Countries in the Europe & Central Asia Region.
Among countries in the same World Bank Europe & Central Asia (ECA) region, Iceland comes in 33rd with 8.309% inflation, consumer prices (annual %).
- Within the same region, Croatia comes in 23rd with 10.781%, inflation, consumer prices (annual %).
- Netherlands comes in 24th with 10.001%.
- Greece comes in 25th with 9.645%.
- Belgium comes in 26th with 9.598%.
- Slovenia comes in 27th with 8.834%.
- Armenia comes in 28th with 8.641%.
- Austria comes in 29th with 8.547%.
- Cyprus comes in 30th with 8.395%.
- Spain comes in 31st with 8.391%.
- Sweden comes in 32nd with 8.369%.
- Italy comes in 34th with 8.201%.
- Kazakhstan comes in 35th with 8.042%.
- United Kingdom comes in 36th with 7.922%.
- Portugal comes in 37th with 7.833%.
- Ireland comes in 38th with 7.807%.
- Denmark comes in 39th with 7.697%.
- Finland comes in 40th with 7.124%.
- Germany comes in 41st with 6.873%.
- Albania comes in 42nd with 6.725%.
- And Russian Federation comes in 43rd with 6.694%, inflation, consumer prices (annual %).
Inflation, consumer prices (annual %), Top 10 Countries in the Europe & Central Asia Region.
Top 10 Countries in the Europe & Central Asia Region.
| # | Country | Inflation, consumer prices (annual %) | Year |
|---|---|---|---|
| 1 | Turkiye | 72.31% | 2022 |
| 2 | Moldova | 28.74% | 2022 |
| 3 | Ukraine | 20.18% | 2022 |
| 4 | Lithuania | 19.70% | 2022 |
| 5 | Estonia | 19.40% | 2022 |
| 6 | Latvia | 17.31% | 2022 |
| 7 | Bulgaria | 15.33% | 2022 |
| 8 | Belarus | 15.21% | 2022 |
| 9 | Czechia | 15.10% | 2022 |
| 10 | Hungary | 14.61% | 2022 |
Comparison with Countries in the High income Group.
Among countries in the same World Bank High income (HI) group, Iceland comes in 20th with 8.309% inflation, consumer prices (annual %).
- Within the same income group, Croatia comes in 10th with 10.781%, inflation, consumer prices (annual %).
- Netherlands comes in 11th with 10.001%.
- Greece comes in 12th with 9.645%.
- Belgium comes in 13th with 9.598%.
- Uruguay comes in 14th with 9.104%.
- Slovenia comes in 15th with 8.834%.
- Austria comes in 16th with 8.547%.
- Cyprus comes in 17th with 8.395%.
- Spain comes in 18th with 8.391%.
- Sweden comes in 19th with 8.369%.
- Seychelles comes in 21st with 8.277%.
- Italy comes in 22nd with 8.201%.
- United States comes in 23rd with 8.003%.
- United Kingdom comes in 24th with 7.922%.
- Portugal comes in 25th with 7.833%.
- Ireland comes in 26th with 7.807%.
- Denmark comes in 27th with 7.697%.
- Antigua and Barbuda comes in 28th with 7.531%.
- New Zealand comes in 29th with 7.172%.
- And Finland comes in 30th with 7.124%, inflation, consumer prices (annual %).
Inflation, consumer prices (annual %), Top 14 Countries in the High income Group.
Top 14 Countries in the High income Group.
| # | Country | Inflation, consumer prices (annual %) | Year |
|---|---|---|---|
| 1 | Lithuania | 19.705% | 2022 |
| 2 | Estonia | 19.398% | 2022 |
| 3 | Latvia | 17.310% | 2022 |
| 4 | Czechia | 15.100% | 2022 |
| 5 | Hungary | 14.608% | 2022 |
| 6 | Poland | 14.430% | 2022 |
| 7 | Romania | 13.796% | 2022 |
| 8 | Slovak Republic | 12.774% | 2022 |
| 9 | Chile | 11.644% | 2022 |
| 10 | Croatia | 10.781% | 2022 |
| 11 | Netherlands | 10.001% | 2022 |
| 12 | Greece | 9.645% | 2022 |
| 13 | Belgium | 9.598% | 2022 |
| 14 | Uruguay | 9.104% | 2022 |