Annual inflation, consumer prices in Iceland
Iceland: Annual inflation, consumer prices was 5.9% in 2024. ◆ Volatile
Annual inflation, consumer prices in Iceland, 2000–2024
Source: United Nations Statistics Division, SDG Global Database. Measured in %.
Analysis
In 2024, annual inflation, consumer prices in Iceland stood at 5.9%.
That represents a change of down 33.0% on the previous year and up 186.5% over ten years.
Over the whole period, annual inflation, consumer prices in Iceland peaked at 12.7% in 2008 and was at its lowest, 1.6%, in 2015.
Iceland ranks 50th of 203 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Annual inflation, consumer prices in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 5.1% | — |
| 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% |
Iceland compared with similar countries
- Iceland's 5.9% is above the median for high income countries, which is 2.4%, 2.5× the median. (64 countries reporting)
- Iceland's 5.9% is above the median for Europe & Central Asia, which is 2.8%, 2.1× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6.2% | 2.1% | 12.7% | 10 |
| 2010s | 3.1% | 1.6% | 5.4% | 10 |
| 2020s | 6.0% | 2.8% | 8.7% | 5 |
Countries ranked near Iceland
More development goals data for Iceland
- Red List Index 0.8515 index (2025)
- Number of refugees per 100,000 population, by country of origin 4.27 per 100,000 people (2025)
- Manufacturing value added per capita 5,542 constant US$ (2025)
- Number of transboundary breeds 6 (2025)
- Number of transboundary breeds (not extinct) 6 (2025)
- Number of transboundary breeds with unknown risk status 1 (2025)
- Number of local breeds with unknown risk status 4 (2025)
- Number of local breeds (not extinct) 10 (2025)
- Number of local breeds kept in the country 10 (2025)
- Infant deaths 9 (2024)
Frequently asked questions
- What is annual inflation, consumer prices in Iceland?
- Annual inflation, consumer prices in Iceland was 5.9% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest annual inflation, consumer prices recorded in Iceland?
- The highest recorded value was 12.7% in 2008.
- What is the lowest annual inflation, consumer prices recorded in Iceland?
- The lowest recorded value was 1.6% in 2015.
- How does Iceland rank for annual inflation, consumer prices?
- Iceland ranks 50th out of 203 countries with data for 2024.
- Is annual inflation, consumer prices rising or falling in Iceland?
- Over the last ten years it is up 186.5%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Annual inflation, consumer prices (%). Statizoid updates them automatically from the source API.
Download this data
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