Prices in Iceland

What are the supermarket prices in Iceland? Is the cost of living in Iceland higher than in United States? How much will it cost us to entertain in Iceland and how much will we spend in restaurants and bars?
On this page below you will find the current price and cost overview in Iceland: food prices, Prices in restaurants, cost of living, and entertainment costs (The last update: today 6 hours ago)

Currency in Iceland Icelandic króna (ISK). For 10 US dollars you can get 1.38 thousand Icelandic krónur. For 100 US dollars you can get 13.8 thousand Icelandic krónur. And the other way around: For 100 Icelandic krónur you can get 0.725 US dollars.

What are the different prices in the cities in Iceland? Look here: Prices in cities in Iceland

Prices: Reykjavik   Kópavogur   Akureyri   Keflavik   Egilsstadir   Hafnarfjorour   Akranes   Grundarfjordur   Vik i Myrdal   Vogar  

Summing up different expenses, it can be concluded that it is generally more expensive in Iceland than in United States. Food and basic products are more expensive in 27%. In restaurants, it will be more expensive by 47%. And the cost of living is higher in Iceland around 6.6%. In the case of sports and entertainment, our expenses can be higher by 32%.

See also how prices have changed in previous years: Price changes in previous years in Iceland

Are hotels expensive in Iceland? How much will we pay for a room in Iceland?

The average price of accommodation in Iceland is $136 (ISK 18.8K). If you are looking for the cheapest accommodation: in a cheap one-star hotel you will pay: $91 (ISK 12.5K) and if you like hostels, you'll spend the night there for: $71 (ISK 9.79K). The cost of a room in a 2-star hotel is Iceland in $116 (ISK 16.1K). 3-star hotels offer accommodation for an average price of $184 (ISK 25.3K) Overnight stay in a 4-star hotel costs $255 (ISK 35.2K) in Iceland If you are looking for the best conditions for your stay, then in 5-star hotels that will provide much more luxury you will have to pay $741 (ISK 102K)

And if the trip plans are simply for a given region of the world, then maybe it will come out cheaper than in Iceland in nearby countries? See prices in: Faroe Islands, United Kingdom, Ireland, Isle of Man, and Norway.

Comparison of selected prices in Iceland with prices in United States:

fees

$107 ($51 - $181)
by half less than in United States

internet

$72 ($47 - $112)
Very much like in United States

jeans

$118 ($59 - $145)
120% more than in United States

average earnings

$4.2K
7.9% is less expensive than in United States

renting a small apartment in the center

$1.76K ($1.23K - $2.17K)
1.1% is less expensive than in United States

renting a large apartment outside the center

$2.24K ($1.59K - $3.26K)
7.5% is less expensive than in United States

bread

$3.5 ($2.1 - $7.2)
2.6% is less expensive than in United States

cheese

$14.7 ($8.7 - $22)
15% more than in United States

rice

$3.2 ($1.9 - $5)
31% is less expensive than in United States

tomatoes

$4.7 ($2.3 - $7.2)
3.3% is less expensive than in United States

bananas

$2.2 ($1.8 - $3.6)
31% more than in United States

wine

$20 ($14.5 - $33)
35% more than in United States

cheap restaurant

$22 ($14.4 - $36)
8.7% more than in United States

local beer

$10.1 ($6.5 - $13)
69% more than in United States

coffee

$4.9 ($3.1 - $7.2)
3.8% is less expensive than in United States

bottle of water

$2.1 ($1.4 - $3.5)
2.4% more than in United States

Burger King or a similar bar

$16.7 ($14.4 - $18.1)
by half more than in United States

Cola, Pepsi, Sprite, Mirinda

$2.8 ($2 - $3.8)
14% more than in United States

Price changes in previous years in Iceland

Has the price of bread increased in Iceland?
Bread in previous years has cost: 2012: $1.9(ISK 264), 2013: $1.6(ISK 218), 2014: $2(ISK 272), 2015: $2.6(ISK 359), 2016: $2.2(ISK 297), 2017: $2.6(ISK 365), and 2018: $2.4(ISK 330).

Price changes in Bananas over the years: 2015: $2.6(ISK 364), 2016: $2.3(ISK 316), 2017: $1.9(ISK 262), and 2018: $1.6(ISK 222)

Have prices increased in restaurants in Iceland?
In inexpensive restaurants, the price for a meal was: 2012: $12(ISK 1.65K), 2013: $12.6(ISK 1.74K), 2014: $13(ISK 1.8K), 2015: $14.5(ISK 2K), 2016: $14.5(ISK 2K), 2017: $15.9(ISK 2.2K), and 2018: $17.4(ISK 2.4K)

Price changes in Renting A Small Apartment In The Center over the years: 2012: $943(ISK 130K), 2013: $1.04K(ISK 143K), 2014: $944(ISK 130K), 2015: $1.08K(ISK 149K), 2016: $1.19K(ISK 164K), 2017: $1.29K(ISK 178K), and 2018: $1.39K(ISK 192K)