inflation
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Iceland Is Currently Much More Expensive Than Norway
The Icelandic króna is at one of its strongest levels in history, making Iceland considerably more expensive than Norway and raising concerns about the competitiveness of the country’s export sectors, RÚV reports. The currency has seen a sharp rise in value in…
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One In Three Worried About U.S.-Imposed Tariffs, Inflation Increases
According to a recent survey by Maskína, about 30% of Icelanders are worried about the negative impacts of U.S.-imposed tariffs, mbl.is reports. About seven percent are very worried, while 22.5% are somewhat worried. Most respondents, 37.8%, have mild concerns. Left-Green Party voters…
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Inflation Falls To Lowest Point Since 2021
Iceland’s inflation rate has declined to 5.1 percent, marking its lowest point since November 2021, when it stood at 4.8 percent, reports RÚV. This recent drop comes after a peak of 10.2 percent in February 2023 and arrives just ahead of the…
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Labour Unions Organise Mass Protest Over Inflation
The Icelandic Confederation of Labour (ASÍ), Federation of Public Workers (BSRB), and the Icelandic Teachers’ Union (KÍ) have organised a mass protest at 16:00 today — Tuesday September 10 — at Austurvöllur in Reykjavík. “Incessant inflation and high interest rates have seriously…
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Tourism Not Fuelling Inflation, Says Tourist Association
The head of the Icelandic Travel Industry Association (SAF) insists that the constant influx of tourists into Iceland is not fuelling the country’s current inflation levels. Inflation in Iceland was 6.79 percent in January 2024. SAF managing director Jóhannes Þór Skúlason told…
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Policy Interest Rates At Standstill, Purchasing Power Decreased
Despite economists‘ predictions, the Central Bank of Iceland chose not to increase its policy interest rates during its last meeting. The Central Bank has raised the interest rates 14 times in a row since 2021. On Wednesday, October 4, the Central Bank announced…
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In The Land Of Constant Inflation
The arrival of Wolt presents a jarring implication Gig work has become increasingly prevalent in recent years, offering an attractive means of making some extra money. And in the land of constant inflation, there is always more work to be done. “Gig…
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Lowest Inflation In Ten Months
The annual inflation rate has decreased, according to new data from Statistics Iceland. Inflation is now 7.6%, as opposed to 8.9% in June. A major factor in calculating this result is lower prices on shoes and clothing due to summer clearances. …
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Side Hustle Of The Issue: The Weekend Musician
Prices in Reykjavík are rising as you read this, post-pandemic layoffs persist and AI is threatening to take over everybody’s job. Today’s generation isn’t worried about affording a house; we’re just happy if our expenses don’t surpass our income. Everyone is hustling.…
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What the news?! There’s No Negotiations With These Humpbacks
Free whale watching in Hafnarfjörður Three humpback whales have been frequenting the harbour of Hafnarfjörður since mid-February. The Icelandic Marine & Freshwater Research Institute identified two of the whales as having previously been spotted back in 2021 — one in Ísafjörður and…
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Inflation To Affect Christmas Book Market
Inflation due to the current energy crisis in Europe will likely affect the prices for many consumer goods, including Christmas books, reports RÚV. [su_pullquote]Titans of Icelandic photography combine in this discount box in the Grapevine Store: signed copies of both Faces of…
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Bónus Will Not Freeze Product Prices
Bónus manager Guðmundur Marteinsson believes it is not responsible to freeze the company’s product prices, reports RÚV. [su_pullquote]To celebrate reaching 200 RVK Newscast episodes on Youtube, as well as the new eruption at Meradalir, we’re having a volcano themed giveaway! Follow our…
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The Icelandic Roundup: Xenophobia, Monkeypox and Slutwalk
Josie Anne Gaitens (culture editor) and Andie Sophia Fontaine (news editor) are joined by journalist Emma Ledbetter to go over some of the biggest news stories in Iceland right now. Looking for more news? Check out our website for the latest coverage: grapevine.is…
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The Icelandic Roundup: Women In Rock
Culture Editor Josie Anne Gaitens is joined by two guests, Ólöf Benediktsdóttir of Stelpur Rokka and the band Svartþoka, and Laufey Soffía of the band Kælan Mikla, to discuss the reaction the the all male lineup for “Rokk Í Reykjavík”, a concert…
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The Icelandic Roundup: A Question Of Sports
Culture Editor Josie Anne Gaitens and News Editor Andie Sophia Fontaine are here to delve into SPORTS. A topic that we are incredibly knowledgable of and can talk about at length. Other topics covered in this episode include trans rights, whether Reykjavík…
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8.8% Inflation Hits Iceland
Inflation has been rising in Iceland over the last twelve months. According to Statistics Iceland’s consumer price index it now measures at 8.8%. Inflation has not been as high in Iceland since the autumn of 2009, Vísir reports. [su_pullquote]Summer Sale on T-Shirts…
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Labour, Management & Central Bank Square Off Over Inflation–And How To Stop It
There is no disputing that Iceland’s inflation rate has been steadily rising–from 4.3% in July 2021 to 7.6% in April 2022. The real question is what to do about it, and the Central Bank, business leaders, and union representatives all have different…
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RVK Newscast 191: Whaling, New Icelanders And Inflation
Looking sharp, chief! For today’s RVK Newscast, Valur Grettisson, editor-in-chief of The Reykjavík Grapevine, is at Rakarastofa Ragnars & Harðar for a fresh cut—as well as to go over the freshest Icelandic news. Read on for more info and links. Preorder your…
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Long Summer Holiday, Short Work Week Increase Inflation, Says Trade Minister
The International Institute for Management Development puts Iceland in the 16th spot on a worldwide competitiveness ranking—below Denmark at first, Sweden at fourth, Finland at eighth, and Norway at ninth—prompting officials to consider how to make the nation stand out on a…
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Highest Inflation In 16 Months
Inflation in Iceland is currently higher than it has been in 16 months. Twelve-month inflation now stands at 3.5%, a report from RÚV revealed this morning. It has not been higher than this since May last year, when it was 3.6%. According…
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Inflation In Iceland Highest In Five Years
Statistics Iceland released a new report that shows a 3.3% rate of inflation over the last twelve months, RÚV reports. This is twice as much as last year and the highest rate since 2013. The press release stated that there was a…
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Iceland’s Showdown With Creditors Arrives
The Icelandic government will tell hedge funds and other creditors in its failed banks how their claims can be settled this week, reports Bloomberg. The government has reportedly designed a model to protect the ISK from any instability that might result from…
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Iceland Prepares To Phase Out Capital Controls
Iceland is planning to sell six-year euro-denominated bonds in a push to ease the capital controls that have been in place since the economic collapse of 2008. According to Bloomberg, the government hired Barclays Plc, Citigroup Inc., Deutsche Bank AG and JPMorgan Chase…