Inflation

Inflation is defined as an ongoing increase in the general price level and is most often measured as the twelve-month change in the consumer price index (CPI), which measures the average price of goods and services in the market. Inflation entails a decline in the value of money; that is, each króna buys a smaller amount of goods and services. Statistics Iceland measures the CPI, based on regular surveys of household expenditures nationwide.

 

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  • What is inflation?

  • How is the CPI measured?