Inflation, consumer prices in Iceland
Iceland: Inflation, consumer prices 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 191 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 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% |
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)
- GNI, Atlas method (current US$), annual growth rate 11.95 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9074 current US$ per US$ of GDP (2025)
- GNI, Atlas method (current US$), per capita 89,219 current US$ per person (2025)
- GNI (current US$), annual growth rate 17.05 % change on previous year (2025)
- GNI (current US$), per unit of GDP 0.9978 current US$ per US$ of GDP (2025)
- GNI (current US$), per capita 98,107 current US$ per person (2025)
- GNI (current LCU), annual growth rate 8.97 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 128.16 current LCU 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 191 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.