Inflation, consumer prices (annual %) (International Financial) in Iceland
Iceland: Inflation, consumer prices (annual %) (International Financial) was 4.1% in 2025. ◆ Volatile
Inflation, consumer prices in Iceland, 1960–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in annual %.
Analysis
Iceland recorded 4.1% for inflation, consumer prices in 2025.
Compared with earlier readings it is down 30.2% on the previous year and up 150.5% over ten years.
Over the whole period, inflation, consumer prices in Iceland peaked at 84.0% in 1983 and was at its lowest, 1.6%, in 1994.
Iceland ranks 59th of 192 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Inflation, consumer prices (annual %) (International Financial) in Iceland, year by year
| Year | annual % | Change |
|---|---|---|
| 1960 | 2.0% | — |
| 1961 | 4.7% | +137.0% |
| 1962 | 11.0% | +133.8% |
| 1963 | 12.9% | +17.4% |
| 1964 | 19.2% | +48.9% |
| 1965 | 7.3% | -62.0% |
| 1966 | 10.7% | +46.1% |
| 1967 | 3.3% | -68.9% |
| 1968 | 15.1% | +354.7% |
| 1969 | 21.7% | +44.0% |
| 1970 | 13.4% | -38.5% |
| 1971 | 6.7% | -49.7% |
| 1972 | 9.8% | +45.7% |
| 1973 | 21.4% | +117.7% |
| 1974 | 42.5% | +99.1% |
| 1975 | 49.4% | +16.1% |
| 1976 | 31.9% | -35.3% |
| 1977 | 30.3% | -5.1% |
| 1978 | 43.8% | +44.3% |
| 1979 | 44.4% | +1.6% |
| 1980 | 58.5% | +31.7% |
| 1981 | 51.8% | -11.5% |
| 1982 | 50.2% | -3.0% |
| 1983 | 84.0% | +67.1% |
| 1984 | 30.9% | -63.2% |
| 1985 | 32.0% | +3.7% |
| 1986 | 22.1% | -30.8% |
| 1987 | 18.3% | -17.3% |
| 1988 | 25.7% | +40.6% |
| 1989 | 20.8% | -19.3% |
| 1990 | 15.5% | -25.3% |
| 1991 | 6.8% | -56.1% |
| 1992 | 3.9% | -42.0% |
| 1993 | 4.0% | +2.4% |
| 1994 | 1.6% | -61.6% |
| 1995 | 1.7% | +6.3% |
| 1996 | 2.3% | +36.9% |
| 1997 | 1.8% | -19.7% |
| 1998 | 1.7% | -8.6% |
| 1999 | 3.2% | +94.8% |
| 2000 | 5.1% | +58.9% |
| 2001 | 6.4% | +24.7% |
| 2002 | 5.2% | -18.9% |
| 2003 | 2.1% | -60.4% |
| 2004 | 3.2% | +53.6% |
| 2005 | 4.0% | +26.2% |
| 2006 | 6.7% | +67.7% |
| 2007 | 5.1% | -24.5% |
| 2008 | 12.7% | +151.3% |
| 2009 | 12.0% | -5.4% |
| 2010 | 5.4% | -55.0% |
| 2011 | 4.0% | -25.9% |
| 2012 | 5.2% | +29.6% |
| 2013 | 3.9% | -25.3% |
| 2014 | 2.0% | -47.2% |
| 2015 | 1.6% | -20.1% |
| 2016 | 1.7% | +3.9% |
| 2017 | 1.8% | +3.7% |
| 2018 | 2.7% | +52.4% |
| 2019 | 3.0% | +12.3% |
| 2020 | 2.8% | -5.5% |
| 2021 | 4.4% | +56.1% |
| 2022 | 8.3% | +87.0% |
| 2023 | 8.7% | +5.1% |
| 2024 | 5.9% | -33.0% |
| 2025 | 4.1% | -30.2% |
Iceland compared with similar countries
- Iceland's 4.1% is above the median for high income countries, which is 2.3%, 1.8× the median. (67 countries reporting)
- Iceland's 4.1% is above the median for Europe & Central Asia, which is 3.8%, 1.1× the median. (49 countries reporting)
Biggest year-on-year movements
Years where Inflation, consumer prices (annual %) (International Financial) in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1968 | +354.7% | 3.3% | 15.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 10.8% | 2.0% | 21.7% | 10 |
| 1970s | 29.4% | 6.7% | 49.4% | 10 |
| 1980s | 39.4% | 18.3% | 84.0% | 10 |
| 1990s | 4.2% | 1.6% | 15.5% | 10 |
| 2000s | 6.2% | 2.1% | 12.7% | 10 |
| 2010s | 3.1% | 1.6% | 5.4% | 10 |
| 2020s | 5.7% | 2.8% | 8.7% | 6 |
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)
- SDRs holdings, US dollar, annual growth rate 5.55 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0153 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 1,500 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.5124 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0111 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 1,095 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0089 units per US$ of GDP (2025)
Frequently asked questions
- What is inflation, consumer prices in Iceland?
- Inflation, consumer prices in Iceland was 4.1% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest inflation, consumer prices recorded in Iceland?
- The highest recorded value was 84.0% in 1983.
- What is the lowest inflation, consumer prices recorded in Iceland?
- The lowest recorded value was 1.6% in 1994.
- How does Iceland rank for inflation, consumer prices?
- Iceland ranks 59th out of 192 countries with data for 2025.
- Is inflation, consumer prices rising or falling in Iceland?
- Over the last ten years it is up 150.5%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Inflation, consumer prices (annual %). Statizoid updates them automatically from the source API.
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About this data
Inflation as measured by the consumer price index reflects the annual percentage change 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.