Iceland — Inflation
Inflation, Consumer Prices (Annual %) for Iceland, 1960–2025.
Inflation for Iceland was 4.09% in 2025, according to the latest World Bank data. The series covers 66 years, from 1960 to 2025. The highest recorded value was 83.95% in 1983. The lowest was 1.55% in 1994 (about 2.6× the low point). Across that span the compound annual growth rate works out to 1.12% per year.
Iceland ranks 56 of 187 economies on this measure (1 = highest), putting it in the top 30%. The median for Europe & Central Asia is 3.75%, so Iceland sits above it. It peaked in 1983 and has fallen 95% since. Over the last decade (2015–2025) the figure moved up 151%. Within Europe & Central Asia it ranks 14 of 49 economies; North Macedonia (4.07%) is just below it. Its sharpest one-year move was up 355% in 1968.
Data highlights
From its 1960 level: doubled by 1961; grown tenfold by 1969. Doubling roughly every 62 years at that pace.
World ranking. Slipped: 32nd of 63 in 1960 → 8th of 92 in 1970 → 5th of 106 in 1980 → 40th of 131 in 1990 → 56th of 163 in 2000 → 57th of 186 in 2010 → 70th of 178 in 2020 → 47th of 169 in 2025.
Key figures
Full history — 1960 to 2025
| Year | annual % | Change |
|---|---|---|
| 2025 | 4.09% | -1.8 pp |
| 2024 | 5.86% | -2.9 pp |
| 2023 | 8.74% | +0.4 pp |
| 2022 | 8.31% | +3.9 pp |
| 2021 | 4.44% | +1.6 pp |
| 2020 | 2.85% | -0.2 pp |
| 2019 | 3.01% | +0.3 pp |
| 2018 | 2.68% | +0.9 pp |
| 2017 | 1.76% | +0.1 pp |
| 2016 | 1.7% | +0.1 pp |
| 2015 | 1.63% | -0.4 pp |
| 2014 | 2.04% | -1.8 pp |
| 2013 | 3.87% | -1.3 pp |
| 2012 | 5.19% | +1.2 pp |
| 2011 | 4% | -1.4 pp |
| 2010 | 5.4% | -6.6 pp |
| 2009 | 12% | -0.7 pp |
| 2008 | 12.69% | +7.6 pp |
| 2007 | 5.05% | -1.6 pp |
| 2006 | 6.69% | +2.7 pp |
| 2005 | 3.99% | +0.8 pp |
| 2004 | 3.16% | +1.1 pp |
| 2003 | 2.06% | -3.1 pp |
| 2002 | 5.2% | -1.2 pp |
| 2001 | 6.41% | +1.3 pp |
| 2000 | 5.14% | +1.9 pp |
| 1999 | 3.23% | +1.6 pp |
| 1998 | 1.66% | -0.2 pp |
| 1997 | 1.82% | -0.4 pp |
| 1996 | 2.26% | +0.6 pp |
| 1995 | 1.65% | +0.1 pp |
| 1994 | 1.55% | -2.5 pp |
| 1993 | 4.04% | +0.1 pp |
| 1992 | 3.95% | -2.9 pp |
| 1991 | 6.81% | -8.7 pp |
| 1990 | 15.51% | -5.2 pp |
| 1989 | 20.76% | -5.0 pp |
| 1988 | 25.73% | +7.4 pp |
| 1987 | 18.3% | -3.8 pp |
| 1986 | 22.13% | -9.9 pp |
| 1985 | 31.99% | +1.1 pp |
| 1984 | 30.85% | -53.1 pp |
| 1983 | 83.95% | +33.7 pp |
| 1982 | 50.24% | -1.6 pp |
| 1981 | 51.79% | -6.7 pp |
| 1980 | 58.53% | +14.1 pp |
| 1979 | 44.44% | +0.7 pp |
| 1978 | 43.75% | +13.4 pp |
| 1977 | 30.32% | -1.6 pp |
| 1976 | 31.95% | -17.4 pp |
| 1975 | 49.36% | +6.8 pp |
| 1974 | 42.52% | +21.2 pp |
| 1973 | 21.35% | +11.5 pp |
| 1972 | 9.81% | +3.1 pp |
| 1971 | 6.73% | -6.6 pp |
| 1970 | 13.37% | -8.4 pp |
| 1969 | 21.74% | +6.6 pp |
| 1968 | 15.1% | +11.8 pp |
| 1967 | 3.32% | -7.4 pp |
| 1966 | 10.69% | +3.4 pp |
| 1965 | 7.32% | -11.9 pp |
| 1964 | 19.25% | +6.3 pp |
| 1963 | 12.93% | +1.9 pp |
| 1962 | 11.02% | +6.3 pp |
| 1961 | 4.71% | +2.7 pp |
| 1960 | 1.99% | — |
Frequently asked questions
What was Iceland’s Inflation in 1961?
4.71% (1961). The full year-by-year table above lists every published year, most recent first.
Are changes in this series measured in percentage points?
Yes. The series is a share expressed in annual %, so year-over-year movements in the Change column are percentage points (pp), not percent.
Is Iceland’s Inflation growing or shrinking?
Between 1960 and 2025 the series was growing overall: +105.7% in total — about 1.1% a year compounded.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator FP.CPI.TOTL.ZG. Values are reproduced as published; this page only computes summary statistics such as change, CAGR and extremes.
What are the most recent published figures?
The last five published years: 2025: 4.09%; 2024: 5.86%; 2023: 8.74%; 2022: 8.31%; 2021: 4.44%. Earlier years are in the full-history table below.
Related data
FP.CPI.TOTL.ZG — Inflation, Consumer Prices (Annual %). Data licensed under CC BY 4.0. Values are reproduced as published; this page computes the summary statistics (change, CAGR, extremes) from the underlying annual series. View the original dataset on data.worldbank.org.