Iceland Food Inflation
Year-on-year change in consumer prices of food and non-alcoholic beverages.
Food Inflation in Iceland decreased to 5.49 percent in Dec 2025 from 6.04 percent in Nov 2025.
Iceland Food Inflation — History
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Iceland Food Inflation — analysis in simple words
Latest reading
Food Inflation in Iceland decreased to 5.49 percent in Dec 2025 from 6.04 percent in Nov 2025.
Over the last three months it rose once and fell twice.
Recent trend
A year earlier (Dec 2024) it was 4.1%, so the latest figure is 1.4 percentage points higher.
Over the past five years the average was 6.7%, with a range from 1.3% to 12.5%. The latest value is below that five-year average.
Historical context
This data series starts in Dec 1960 and has 660 monthly observations. The latest reading is higher than 49% of all of them.
The highest value on record is 120.9% (Aug 1983) and the lowest is -7.1% (May 2005). The long-run average is 11.9%.
Compared with other countries
Among 42 economies with recent data, Iceland ranks 8th from the top. The median across all these economies is 3.3%, so Iceland is above the typical country.
Within Europe & Central Asia (29 economies with data) it ranks 4th; the regional median is 3.4%.
Statistics
- Latest
- 5.5%Dec 2025
- Previous
- 6.0%
- 5-year average
- 6.7%
- Long-run average
- 11.9%since Dec 1960
- All-time high
- 120.9%Aug 1983
- All-time low
- -7.1%May 2005
- Observations
- 660Monthly
Recent Data
| Period | Value | Change |
|---|---|---|
| Dec 2025 | 5.5% | ▼ −0.5 pp |
| Nov 2025 | 6.0% | ▲ +0.2 pp |
| Oct 2025 | 5.8% | ▼ −0.3 pp |
| Sep 2025 | 6.1% | ▲ +0.6 pp |
| Aug 2025 | 5.5% | ▲ +0.6 pp |
| Jul 2025 | 5.0% | ▼ −1.1 pp |
| Jun 2025 | 6.0% | ▲ +0.1 pp |
| May 2025 | 5.9% | ▲ +0.3 pp |
| Apr 2025 | 5.7% | ▲ +0.7 pp |
| Mar 2025 | 4.9% | ▲ +0.3 pp |
| Feb 2025 | 4.6% | ▲ +0.5 pp |
| Jan 2025 | 4.2% | ▲ +0.1 pp |
| Dec 2024 | 4.1% | ▲ +0.2 pp |
| Nov 2024 | 3.9% | ▼ −0.2 pp |
| Oct 2024 | 4.1% | ▼ −0.1 pp |
| Sep 2024 | 4.2% | ▼ −0.7 pp |
| Aug 2024 | 4.9% | ▼ −0.9 pp |
| Jul 2024 | 5.8% | ▲ +0.6 pp |
| Jun 2024 | 5.1% | ▼ −0.1 pp |
| May 2024 | 5.2% | ▼ −0.4 pp |
| Apr 2024 | 5.6% | ▼ −1.5 pp |
| Mar 2024 | 7.1% | ▼ −0.4 pp |
| Feb 2024 | 7.5% | ▼ −1.4 pp |
| Jan 2024 | 8.9% | ▼ −1.6 pp |
| Dec 2023 | 10.5% | ▼ −0.6 pp |
| Nov 2023 | 11.1% | ▼ −0.6 pp |
| Oct 2023 | 11.7% | ▼ −0.6 pp |
| Sep 2023 | 12.4% | ▲ +0.2 pp |
| Aug 2023 | 12.2% | ▼ −0.2 pp |
| Jul 2023 | 12.4% |
Food Inflation — Iceland vs Peers
Latest available reading for each economy (periods may differ). Iceland highlighted.
More Iceland indicators
Understanding Food Inflation — a simple guide
What it measures
The year-on-year change in the price of food and non-alcoholic beverages in the consumer price index.
How it is calculated
Year-on-year % change in the food and non-alcoholic beverages part of the CPI basket.
If vegetables, cereals and milk together cost 8% more than a year ago, food inflation is 8%.
High food inflation hurts household budgets and often lifts headline inflation.
Low or negative food inflation eases household costs but can mean lower farm incomes.
Why it matters for the economy and markets
Food is a large share of household spending, especially in emerging economies like India, so food prices strongly affect headline inflation and household budgets.
How to read it
Food inflation is volatile because of monsoon, harvests, supply problems and global commodity prices. Look at several months together rather than a single reading.
What to look at alongside it
Rainfall/monsoon, crop output, headline inflation and global food prices.
Key terms
- COICOP 01
- The international code for “food and non-alcoholic beverages” in CPI.
Data source
OECD — Organisation for Economic Co-operation and Development (series OECD CPI food), monthly data from Dec 1960 to Dec 2025. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current food inflation of Iceland?
What is the highest and lowest food inflation of Iceland?
What does food inflation measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.