Iceland, All Areas

Country Full Name: Republic of Iceland.

Location: Iceland is an island between the Greenland Sea and the North Atlantic Ocean, northwest of the United Kingdom.

Country Climate: Temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers.

Country Terrain: Mostly plateau interspersed with mountain peaks, ice fields; coast deeply indented by bays and fiords.

Major Languages: Icelandic.

Major Religions: Christianity.

Population: 0.318 Mil (2012 est.).

Country Economy: The economy of Iceland is a small mixed economy with high levels of free trade and government intervention and subject to high volatility.

Currency: Iceland Krona (ISK).

Inflation: 5.3% (2011 est.).

The cost of living in All Areas in Iceland is very high compared to other places. The overall cost of living is determined using the prices for defined quantities of the same goods and services across 13 Basket Groups. All Areas in Iceland is currently ranked 151 overall out of 780 places (rank 1 is most expensive: rank 780 is least expensive). The cost of living rank for each of the 13 Basket Groups is as follows:

Alcohol & Tobacco costs are very high compared to other places for items such as alcohol at a bar, beer, locally produced spirit, whiskey, wine (where alcohol is legally sold) and tobacco related products. There are 100 places that are more expensive, and 679 places that are less expensive for alcohol and or tobacco.

Clothing costs are low compared to other places for items such as business suits, casual clothing, children's clothing, coats, evening wear, footwear, hats, shoe repairs and underwear. There are 499 places that are more expensive, and 280 places that are less expensive for clothing.

Communication costs are high compared to other places for various communication costs such as call charges, home telephone rental, internet connection, mobile data costs, mobile phone contract and service provider fees. There are 213 places that are more expensive, and 566 places that are less expensive for communication.

Education costs are low compared to other places for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. There are 531 places that are more expensive, and 248 places that are less expensive for education.

Furniture & Appliance costs are high compared to other places for items such as DVD player, fridge freezer, furniture, household equipment, iron, kettle, light bulbs, microwave, television, toaster, vacuum cleaner and washing machine. There are 299 places that are more expensive, and 480 places that are less expensive for furniture and appliances.

Grocery costs are high compared to other places for items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning materials, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs. There are 277 places that are more expensive, and 502 places that are less expensive for groceries.

Healthcare costs are low compared to other places for general healthcare, general practitioner consultation rates, healthcare/medical insurance, hospital private ward daily rate and non-prescription medicine. There are 467 places that are more expensive, and 312 places that are less expensive for healthcare.

Household Accommodation costs are high compared to other places for items such as accommodation, apartment, flat, house, villa, rent, electricity, household fuels, household gas, water, and local property rates / residential taxes / levies. There are 254 places that are more expensive, and 525 places that are less expensive for household accommodation.

Miscellaneous costs are very high compared to other places for items such as dry cleaning, general goods, general services, linen, magazines, maid, newspapers, office supplies, postage stamps and stationery. There are 51 places that are more expensive, and 728 places that are less expensive for miscellaneous items.

Personal Care costs are average compared to other places for items such as cosmetics, hair care, moisturizer, nappies, pain relief tablets, shampoo, soap, sun block, toilet paper and toothpaste. There are 453 places that are more expensive, and 326 places that are less expensive for personal care.

Recreation and Culture costs are high compared to other places for items such as books, camera, cinema tickets, fitness/health club membership, sports goods and theatre tickets. There are 165 places that are more expensive, and 614 places that are less expensive for recreation and culture.

Restaurants, Meals Out and Hotel costs are very high compared to other places for items such as a business dinner, dinner at a family restaurant (non fast food), 4 star and 5 star hotel rates and take away meal (fast food). There are 103 places that are more expensive, and 676 places that are less expensive for restaurants, meals out and hotels.

Transport costs are very high compared to other places for items such as car hire purchase, car insurance, car lease, car maintenance, car rental, car service, diesel, petrol, tyres and public transport. There are 54 places that are more expensive, and 725 places that are less expensive for transport.

Personalized cost of living indexes for All Areas in Iceland are based on the basket groups and comparison location(s) selected in the Calculators.

In terms of the hardship people are likely to experience, assessed in global terms, All Areas in Iceland is ranked as high degree of hardship with a hardship index of 30%.

Personalized hardship index premiums for All Areas in Iceland are based on the comparison location(s) selected in the Calculators.

Note: Xpatulator.com data is updated quarterly. The latest update is as at 1 April 2012. Create a personalized cost of living comparison report using the calculators:
Salary Purchasing Power Parity Calculator
Cost of Living Index Calculator
Cost of Living Allowance Calculator