Inflation in Iceland

Iceland Inflation | Economic News & Forecasts

Iceland - Inflation

Economic activity slowed slightly in the third quarter, but still posted a healthy annual growth rate of 6.0% (Q2: +6.7% yoy). The slowdown was driven by a broad-based easing of domestic demand, with growth in both consumer and capital spending falling from Q2’s elevated levels, and government spending growth easing to its lowest level in nearly five years. Turning to Q4, while unemployment rose in October, it remained well below its 2020 level, and tourist arrivals once again surged, likely boosting consumer spending at the outset of the quarter. Meanwhile, in late November the incumbent coalition reached a deal to continue governing together for another four years. This ensures the continuation of Prime Minister Katrin Jakobsdottir’s green agenda, which includes a 55% reduction in greenhouse emissions by 2030 and a focus on green jobs creation.

Iceland - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)1.6  1.7  1.8  2.7  3.0  

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Iceland Inflation Chart

Iceland Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics Iceland.

Iceland Facts

Value Change Date
Bond Yield3.45-0.99 %Dec 31
Exchange Rate121.1-0.52 %Jan 01

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