Economic Outlook No 117 — Headline inflation in Iceland
Iceland: Economic Outlook No 117 — Headline inflation was 2.73 in 2026. ◆ Volatile
Economic Outlook No 117 — Headline inflation in Iceland, 1966–2026
Source: Organisation for Economic Co-operation and Development.
Analysis
The most recent figure for economic outlook no 117 — headline inflation in Iceland is 2.73, measured in 2026.
That represents a change of down 22.1% on the previous year and up 60.9% over ten years.
Over the whole period, economic outlook no 117 — headline inflation in Iceland peaked at 83.95 in 1983 and was at its lowest, 1.55, in 1994.
That places Iceland 16th out of 28 countries with data for 2026, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Economic Outlook No 117 — Headline inflation in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1966 | 10.69 | — |
| 1967 | 3.32 | -68.9% |
| 1968 | 15.23 | +358.8% |
| 1969 | 21.76 | +42.9% |
| 1970 | 13.37 | -38.6% |
| 1971 | 6.73 | -49.7% |
| 1972 | 9.81 | +45.7% |
| 1973 | 21.35 | +117.7% |
| 1974 | 42.52 | +99.1% |
| 1975 | 49.36 | +16.1% |
| 1976 | 32.04 | -35.1% |
| 1977 | 30.32 | -5.4% |
| 1978 | 43.75 | +44.3% |
| 1979 | 44.44 | +1.6% |
| 1980 | 58.53 | +31.7% |
| 1981 | 51.79 | -11.5% |
| 1982 | 50.24 | -3.0% |
| 1983 | 83.95 | +67.1% |
| 1984 | 30.85 | -63.2% |
| 1985 | 31.99 | +3.7% |
| 1986 | 22.13 | -30.8% |
| 1987 | 18.3 | -17.3% |
| 1988 | 25.73 | +40.6% |
| 1989 | 20.76 | -19.3% |
| 1990 | 15.51 | -25.3% |
| 1991 | 6.81 | -56.1% |
| 1992 | 3.95 | -42.0% |
| 1993 | 4.04 | +2.4% |
| 1994 | 1.55 | -61.6% |
| 1995 | 1.65 | +6.3% |
| 1996 | 2.26 | +36.9% |
| 1997 | 1.82 | -19.7% |
| 1998 | 1.66 | -8.6% |
| 1999 | 3.23 | +94.8% |
| 2000 | 5.14 | +58.9% |
| 2001 | 6.41 | +24.7% |
| 2002 | 5.2 | -18.9% |
| 2003 | 2.06 | -60.4% |
| 2004 | 3.16 | +53.6% |
| 2005 | 3.99 | +26.2% |
| 2006 | 6.69 | +67.7% |
| 2007 | 5.05 | -24.5% |
| 2008 | 12.69 | +151.3% |
| 2009 | 12 | -5.4% |
| 2010 | 5.4 | -55.0% |
| 2011 | 4 | -25.9% |
| 2012 | 5.19 | +29.6% |
| 2013 | 3.87 | -25.3% |
| 2014 | 2.04 | -47.2% |
| 2015 | 1.63 | -20.1% |
| 2016 | 1.7 | +3.9% |
| 2017 | 1.76 | +3.7% |
| 2018 | 2.68 | +52.4% |
| 2019 | 3.01 | +12.3% |
| 2020 | 2.85 | -5.5% |
| 2021 | 4.44 | +56.1% |
| 2022 | 8.31 | +87.0% |
| 2023 | 8.74 | +5.1% |
| 2024 | 5.86 | -33.0% |
| 2025 | 3.5 | -40.2% |
| 2026 | 2.73 | -22.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 12.75 | 3.32 | 21.76 | 4 |
| 1970s | 29.37 | 6.73 | 49.36 | 10 |
| 1980s | 39.43 | 18.3 | 83.95 | 10 |
| 1990s | 4.25 | 1.55 | 15.51 | 10 |
| 2000s | 6.24 | 2.06 | 12.69 | 10 |
| 2010s | 3.13 | 1.63 | 5.4 | 10 |
| 2020s | 5.2 | 2.73 | 8.74 | 7 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- GDP (current US$), annual growth rate 16.26 % change on previous year (2025)
- GDP (current US$), per capita 98,323 current US$ per person (2025)
- GDP (current LCU), annual growth rate 8.24 % change on previous year (2025)
- GDP (current LCU), per unit of GDP 128.44 current LCU per US$ of GDP (2025)
- GDP (current LCU), per capita 12.63 million current LCU per person (2025)
- GDP (constant 2015 US$), annual growth rate 1.28 % change on previous year (2025)
- GDP (constant 2015 US$), per unit of GDP 0.5991 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), per capita 58,910 constant 2015 US$ per person (2025)
Frequently asked questions
- What is economic outlook no 117 — headline inflation in Iceland?
- Economic outlook no 117 — headline inflation in Iceland was 2.73 in 2026, according to Organisation for Economic Co-operation and Development.
- What is the highest economic outlook no 117 — headline inflation recorded in Iceland?
- The highest recorded value was 83.95 in 1983.
- What is the lowest economic outlook no 117 — headline inflation recorded in Iceland?
- The lowest recorded value was 1.55 in 1994.
- How does Iceland rank for economic outlook no 117 — headline inflation?
- Iceland ranks 16th out of 28 countries with data for 2026.
- Is economic outlook no 117 — headline inflation rising or falling in Iceland?
- Over the last ten years it is up 60.9%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Economic Outlook No 117 — Headline inflation. Statizoid updates them automatically from the source API.
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About this data
The OECD Economic Outlook presents the OECD’s analysis of the major global economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, government spending, prices and current balances based on a review of each member country and of the induced effect on each of them on international developments. OECD (2025), OECD Economic Outlook No 117 (Edition 2025/1) EO117 Database documentation EO117 Last historical points gdp inflation cpi population unemployment real gdp gdp per capita employment OECD Economic Outlook website: https://www.oecd.org/economic-outlook/ Contact : eco.outlook@oecd.org Keywords : Outlook, forecasts, forecast, GDP