Iceland Consumer Price Index (CPI): OECD Grouping: Local Source Base Year: Energy

Iceland Consumer Price Index (CPI): OECD Grouping: Local Source Base Year: Energy data was reported at 239.241 Jan2008=100 in Dec 2023. This records an increase from the previous number of 235.803 Jan2008=100 for Sep 2023. Iceland Consumer Price Index (CPI): OECD Grouping: Local Source Base Year: Energy data is updated quarterly, averaging 112.807 Jan2008=100 from Mar 1993 (Median) to Dec 2023, with 124 observations. The data reached an all-time high of 239.241 Jan2008=100 in Dec 2023 and a record low of 57.101 Jan2008=100 in Mar 1993. Iceland Consumer Price Index (CPI): OECD Grouping: Local Source Base Year: Energy data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MEI: Consumer Price Index: COICOP 1999: OECD Member: Quarterly. The consumer price index measures changes over time in the prices paid by households for a fixed basket of goods and services. Types of prices: Prices actually paid by the consumer, including taxes less any discounts or rebates. Price collection methods: Personal visits in food and clothing shops, using paper collection forms. Centrally collected for other goods and services, using telephone, fax and e-mail. Treatment of Owner-occupied housing: Included in the index as simple user cost. Treatment of missing prices: For groceries the price change is calculated for all available items. For other goods and services a missing price can be carried forward for a maximum of three months before a replacement is selected. Treatment for quality changes: Prices are adjusted to remove the effect of quality changes. The processes used vary according to the nature of the change. Possible methods are option pricing, direct price comparison, price overlapping, etc. Introduction of new products: To identify new and newly items different sources of information are used, e.g. detailed HES, suggestions from price collectors and results of market research. The new items are mainly included in March every year when re-basing the index. Treatment of seasonal items: For some clothing, some recreational items and a few food items the last observed price is retained until the month when the item appears again in the shops.; Index series starts in January 1970

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