Iceland’s consumer price growth eased sharply in May 2026, with the month‑over‑month Consumer Price Index (CPI) rising just 0.1%, down from a 0.8% increase in April 2026. The latest data, updated on 28 May 2026, indicate a marked cooling in short‑term price momentum.
On a month‑over‑month basis, the “actual” figure shows how prices changed in May compared with April, while the “previous” reading reflects April’s change versus March. The drop from 0.8% to 0.1% suggests that inflationary pressures have lost steam entering late spring, potentially easing some of the immediate pressure on households and policymakers.
Although this data point reflects only one month’s movement, the abrupt slowdown in price growth will be closely watched for signs of whether Iceland is entering a period of more subdued inflation or simply experiencing a temporary pause after stronger increases earlier in the year.