Iceland's annual inflation rate fell to 5.86% in 2024, down from 8.74% in 2023, according to World Bank. This represents a decrease of 2.88% from the previous year. Iceland has annual inflation rate higher than the global median (5.86% vs median 3.16%). Compared with the median in Europe, Iceland is higher (5.86% vs regional median 2.76%) and ranks 4th out of 43 countries in Europe.

Year

Annual Inflation Rate (%)

2024

5.86%

2023

8.74%

2022

8.31%

2021

4.44%

2020

2.85%

2019

3.01%

2018

2.68%

2017

1.76%

2016

1.7%

2015

1.63%

2014

2.04%

2013

3.87%

2012

5.19%

2011

2010

5.4%

2009

12%

2008

12.69%

2007

5.05%

2006

6.69%

2005

3.99%

2004

3.16%

2003

2.06%

2002

5.2%

2001

6.41%

2000

5.14%

1999

3.23%

1998

1.66%

1997

1.82%

1996

2.26%

1995

1.65%

1994

1.55%

1993

4.04%

1992

3.95%

1991

6.81%

1990

15.51%

1989

20.76%

1988

25.73%

1987

18.3%

1986

22.13%

1985

31.99%

1984

30.85%

1983

83.95%

1982

50.24%

1981

51.79%

1980

58.53%

1979

44.44%

1978

43.75%

1977

30.32%

1976

32.04%

1975

49.36%

1974

42.52%

1973

21.35%

1972

9.81%

1971

6.73%

1970

13.37%

1969

21.76%

1968

15.23%

1967

3.32%

1966

10.69%

1965

7.32%

1964

19.25%

1963

12.93%

1962

11.02%

1961

4.71%

1960

1.99%

Iceland Annual Inflation Rate

Yearly Historical Data (1960-2024)