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<!DOCTYPE html> <html lang="en"> <head> <meta charset="utf-8" /> <meta name="viewport" content="width=device-width, initial-scale=1.0" /> <meta property="og:title" content="Inflation" /> <meta property="og:image" content="http://sedlabanki.is/lisalib/getfile.aspx?itemid=c1887266-1c09-11e5-93fc-005056bc0bdb" /> <meta name="twitter:card" content="summary" /> <meta name="twitter:image" content="https://sedlabanki.is/lisalib/getfile.aspx?itemid=21832d3f-8324-11ea-911f-005056bc3d8f" /> <meta property="pageid" content="7f0f5270-09ce-11e5-93fa-005056bc0bdb" /> <title>Inflation</title> <style type="text/css"> @import url(//fonts.googleapis.com/css?family=Open+Sans:300,400,600,700); </style> <link rel="stylesheet" type="text/css" href="/supportfiles/css/print.less?v=19000101000000" /> <link rel="stylesheet" type="text/css" href="/supportfiles/css/english.less?v=20201123101826" /> <meta name="description" content="Developments in annual inflation, that is, the twelve-month change in the consumer price index." /> <link rel="stylesheet" type="text/css" href="/LisaLib/Css/Content.css"/> <script src="/LisaLib/GetSupportFile.aspx?id=fd35a1df-f7e0-11e4-93fd-005056bc2afe" type="text/javascript" ></script>  <script src="/LisaLib/GetSupportFile.aspx?id=c37fce20-1b43-11e5-93ff-005056bc2afe" type="text/javascript" ></script>  <script src="/LisaLib/GetSupportFile.aspx?id=fd35a1d9-f7e0-11e4-93fd-005056bc2afe" type="text/javascript" ></script>  <link rel="stylesheet" href="/LisaLib/GetSupportFile.aspx?id=fd35a20c-f7e0-11e4-93fd-005056bc2afe" type="text/css" />  <link rel="stylesheet" href="/LisaLib/GetSupportFile.aspx?id=30204444-fc03-11ea-9b8d-005056bccf91" tyoe="text/css" />  <link rel="stylesheet" href="//code.jquery.com/ui/1.10.1/themes/base/jquery-ui.css" />  <script src="//ajax.aspnetcdn.com/ajax/jquery.validate/1.11.1/jquery.validate.js"></script> <script src="//ajax.aspnetcdn.com/ajax/jquery.migrate/jquery-migrate-1.2.1.js"></script> <script src="//ajax.aspnetcdn.com/ajax/mvc/3.0/jquery.unobtrusive-ajax.js"></script> <script src="//ajax.aspnetcdn.com/ajax/mvc/3.0/jquery.validate.unobtrusive.js"></script> <script src="//code.jquery.com/ui/1.10.1/jquery-ui.js"></script>  <script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-K26LJQZ');</script>   <script src="https://cdn.cookiehub.eu/c2/aa057b27.js"></script> <script type="text/javascript"> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('consent', 'default', {'ad_storage': 'denied', 'analytics_storage': 'denied', 'wait_for_update': 500}); document.addEventListener("DOMContentLoaded", function(event) { var cpm = {}; window.cookiehub.load(cpm); }); </script>  </head> <body class="en">  <div id="fb-root"></div> <script>(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/is_IS/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));</script> <div class="wrapper english"> <header class="navbar" role="banner" > <div class="container"> <div class="navbar-header"> <a class="navbar-brand mobile" href="/"><img src="/library/Templates/2019/logo_white.svg" alt="Logo Mobile" /></a> <a class="navbar-brand" href="/"><img src="/library/Templates/2019/logo.svg" alt="Go to frontpage - Central Bank of Iceland" /></a> <h1 class="visuallyhidden">Seðlabanki</h1> <div class="header-shortnav pull-right"> <ul class=""> <li><a href="/default.aspx?pageid=1bf92874-0542-11e5-93fa-005056bc0bdb">About the Bank</a></li> <li><a href="http://www.sedlabanki.is/annad-efni/verdbolga/" class="icelandicLink">Icelandic</a></li> <li role="search" > <form action="/search/" method="get" class="searchHead"> <label for="searchBox" class="control-label sr-only">Search</label> <input type="text" name="searchstring" id="searchBox" placeholder="Search string" title="Search string"> <button type="submit" class="blueButton"><span class="sr-only">Search</span></button> </form> </li> </ul> </div> <nav class="navbar-right" id="sticky" role="navigation"><h2 class="sr-only" id="navDesktopLabel">Valmynd fyrir stærri skjái</h2><ul class="nav navbar-nav navbar-right"><li class="level1 first"><a href="/monetary-policy/" class="level1">Monetary Policy</a></li><li class="level1"><a href="/financial-stability/" class="level1">Financial Stability</a></li><li class="level1"><a href="/financial-supervision/" class="level1">Financial Supervision</a></li><li class="level1"><a href="/statistics/" class="level1">Statistics</a></li><li class="level1"><a href="/publications/" class="level1">Publications</a></li><li class="level1
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href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/notes-and-coin-in-circulation/" class="leveling4">Notes and coin in circulation</a></li><li class="leveling4"><a href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/withdrawal-of-banknotes/" class="leveling4">Withdrawal of banknotes</a></li><li class="leveling4"><a href="/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/reproduction-and-forgery/" class="leveling4">Reproduction and forgery</a></li></ul></li></ul></li><li class="leveling2" data-pageid="683d9600-f1c7-443f-8d95-2b240202c368"><div class="show-children"></div><a href="/financial-stability/foreign-exchange/" class="leveling2">Foreign exchange</a><ul class="leveling2"><li class="leveling3" data-pageid="1d2c75f3-5b3e-11e7-90f6-005056bc3d8f"><a href="/financial-stability/foreign-exchange/capital-controls/" class="leveling3 first last single">Capital 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href="/statistics/surveys/survey-of-market-expectations/" class="leveling3 first">Survey of market expectations</a></li><li class="leveling3" data-pageid="b954cf80-0f2e-400e-9ee6-cd8e810e00b5"><a href="/statistics/surveys/lending-survey/" class="leveling3 last">Lending survey</a></li></ul></li><li class="leveling2" data-pageid="684d781c-e066-11e9-911a-005056bc3d8f"><a href="/statistics/various-measures-of-inflation-expectations/" class="leveling2">Various measures of inflation expectations</a></li><li class="leveling2" data-pageid="fcac51d5-09ce-11e5-93fa-005056bc0bdb"><div class="show-children"></div><a href="/statistics/official-exchange-rate/" class="leveling2">Official exchange rate</a><ul class="leveling2"><li class="leveling3" data-pageid="7b0f42b5-04e5-11e8-8caf-d481d7105f70"><a href="/statistics/official-exchange-rate/trade-weighted-indices/" class="leveling3 first">Trade-weighted indices</a></li><li class="leveling3" data-pageid="6909b7bd-5189-45dd-bf5b-c76ea33496ef"><a href="/?PageId=6909b7bd-5189-45dd-bf5b-c76ea33496ef" class="leveling3">Time series</a></li><li class="leveling3" data-pageid="9468ed2b-09f1-11e5-93fa-005056bc0bdb"><a href="/statistics/official-exchange-rate/revised-currency-baskets/" class="leveling3">Revised currency baskets</a></li><li class="leveling3" data-pageid="56a8b44d-a762-11e7-90f9-005056bc3d8f"><a href="/statistics/official-exchange-rate/faq/" class="leveling3 last">FAQ</a></li></ul></li><li class="leveling2" data-pageid="fcac51cd-09ce-11e5-93fa-005056bc0bdb"><a href="/statistics/xml-data/" class="leveling2 last">XML data</a></li></ul><div class="clearfix"></div></li><li data-pageid="766ba718-03a3-11e5-93fd-005056bc2afe" class="leveling1"><div class="show-children"></div><a href="/publications/" class="leveling1">Publications</a><ul class="leveling1"><li class="leveling2" data-pageid="ba6ab676-0b91-11e5-93fd-005056bc2afe"><a href="http://www.cb.is/publications/news/news-all-years" class="leveling2 first">News</a></li><li 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data-pageid="3fbf364c-0eb4-447a-a7fa-d05b9667c68b" class="leveling1 last"><div class="show-children"></div><a href="/about-the-bank/central-bank-of-iceland/?" class="leveling1">About the Bank</a><ul class="leveling1"><li class="leveling2" data-pageid="f7673198-09d2-11e5-93fd-005056bc2afe"><div class="show-children"></div><a href="/about-the-bank/central-bank-of-iceland/" class="leveling2 first">Central Bank of Iceland</a><ul class="leveling2"><li class="leveling3" data-pageid="16fc3750-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/organisation/" class="leveling3 first">Organisation</a></li><li class="leveling3" data-pageid="3fd2fe5a-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/history-and-premises/" class="leveling3">History and premises</a></li><li class="leveling3" data-pageid="3fd2fe62-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/libraries-and-collection/" class="leveling3">Libraries and collection</a></li><li class="leveling3" data-pageid="4c99ad04-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/laws-and-rules/" class="leveling3">Laws and rules</a></li><li class="leveling3" data-pageid="638c007b-b1dc-11e8-9101-005056bc3d8f"><a href="/about-the-bank/central-bank-of-iceland/personal-data-protection/" class="leveling3">Personal Data Protection</a></li><li class="leveling3" data-pageid="4c99ad0c-09cd-11e5-93fa-005056bc0bdb"><a href="/about-the-bank/central-bank-of-iceland/tariff/" class="leveling3 last">Tariff</a></li></ul></li><li class="leveling2" data-pageid="18f3c86a-09d5-11e5-93fd-005056bc2afe"><a href="/about-the-bank/international-cooperation/" class="leveling2">International cooperation</a></li><li class="leveling2" data-pageid="21b627f2-09d5-11e5-93fd-005056bc2afe"><a href="/about-the-bank/international-reserves/" class="leveling2">International reserves</a></li><li class="leveling2" 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Inflation can be defined as a sustained rise in the general price level. </p> <p> Explanatory notes on various concepts can be found <a href="http://www.cb.is/default.aspx?pageid=72f667dc-09ce-11e5-93fa-005056bc0bdb" target="_blank">here.</a></p> <p> </p> <h4>Price developments, 12-month inflation (%)</h4></div><iframe width="100%" src="https://databank.is/report/inflation?embed=true" name="" id="" frameborder="0" scrolling="No" height="550" title="Price devlopments"></iframe></div> <div class="col-md-offset-3 col-md-9"> <div class="social-icons-blog hidden-print" > <div class="g-plus-blog left"><div class="g-plusone" data-size="tall" data-annotation="none"></div></div> <script type="text/javascript"> (function() { var po = document.createElement('script'); po.type = 'text/javascript'; po.async = true; po.src = 'https://apis.google.com/js/plusone.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(po, s); })(); </script> <div class="tweet-blog left"><a href="https://twitter.com/share" class="twitter-share-button" data-via="centralbank_is" data-count="none">Tweet</a> <script>!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+'://platform.twitter.com/widgets.js';fjs.parentNode.insertBefore(js,fjs);}}(document, 'script', 'twitter-wjs');</script></div>  <div class="fb-like left" data-href="" data-send="false" data-layout="button_count" data-width="80" data-show-faces="false" data-action="like" data-font="verdana"></div> <div class="fb-share-button left" data-href="" data-layout="button" data-font="verdana"></div> </div> </div> </div> </div>  <footer role="contentinfo"> <div class="container"> <div class="footer__item footer__item--first"><div class="l-user-content"><h2>The Central Bank of Iceland</h2> <p>Kalkofnsvegi 1, 101 Reykjavík</p>  <a class="footer__link footer__link--map " href="/frontpage/map/" title="A map that shows the location of The Central Bank of Iceland">Map</a> <p> </p> <p>Nat. reg. no. 560269-4129<br /> Swift: SISLISRE</p></div><div class="l-user-content"><div class="vottanir"><figure><a class="equal-pay" href="/about-the-bank/careers/equal-pay-policy/" title="Jafnlaunavottun"><img alt="Equal Pay Certificate" src="/library/Templates/2019/Jafnlaunavottun_an_texta_f_ljosan_grunn.png" /></a></figure><div class="bsi"><figure><img alt="BSI" src="/library/Templates/2019/mark-of-trust-certified-ISOIEC-27001-information-security-management-black-logo-En-GB-1019.png" /></figure><p>IS 755434</p></div></div></div></div> <div class="footer__item footer__item--second"><div class="l-user-content"><h2><a class="footer__link footer__link--phone" href="tel:003545699600" title="Hringja í Seðlabanka Íslands">+354 569 9600</a></h2> <p>Office hours 9 - 12 and 13 - 16<br /> <a href="mailto:sedlabanki@sedlabanki.is" title="Send an email to the Central Bank of Iceland"><span style="text-decoration: underline;">sedlabanki@sedlabanki.is</span></a><br />  </p> <p> <br /> <a href="https://databank.is/" target="_blank">Databank</a><br /> <a href="/publications/newsletter-registration/">Mailing list registration</a></p></div></div> <div class="footer__item footer__item--third"><div class="shortcuts "><h2>Information</h2><div class="shortcut__item"><a href="/about-the-bank/media/" class="shortcut__link"><div class="shortcut__text">Media</div></a></div><div class="shortcut__item"><a href="/other/copyright/" class="shortcut__link"><div class="shortcut__text">Copyright and disclaimer</div></a></div><div class="shortcut__item"><a href="/other/site-map/" class="shortcut__link"><div class="shortcut__text">Site map</div></a></div><div class="shortcut__item"><a href="/other/public-holidays-in-iceland/" class="shortcut__link" target="_blank"><div class="shortcut__text">Public holidays in Iceland</div></a></div><div class="shortcut__item"><a href="" class="shortcut__item ch2-open-settings-btn"><div class="shortcut__text">Cookie Settings</div></a></div></div><div class="shortcuts shortcuts--oneColumn shortcuts--social-icons"><div class="shortcut__item"><a href="https://www.facebook.com/Central-Bank-of-Iceland-110120807198995/" class="shortcut__link icon__Facebook" target="_blank"><div class="shortcut__text">Facebook</div></a></div><div class="shortcut__item"><a href="https://twitter.com/centralbank_is" class="shortcut__link icon__Twitter" target="_blank"><div class="shortcut__text">Twitter</div></a></div><div class="shortcut__item"><a href="https://www.linkedin.com/company/central-bank-of-iceland/ " class="shortcut__link icon__LinkedIn" target="_blank"><div class="shortcut__text">LinkedIn</div></a></div></div></div> </div> </footer> <script src="/LisaLib/GetSupportFile.aspx?id=ac13ad8f-fb15-11e4-93fd-005056bc2afe" type="text/javascript" ></script>   <script async src="https://www.googletagmanager.com/gtag/js?id=UA-10506683-1"></script> <script> window.dataLayer = window.dataLayer || []; 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