New Data Shows Food Prices Rising Nationwide

2026-03-19 - 10:52

Food prices in Iceland have increased during the first months of 2026, RÚV reports. The largest rises are recorded in meat and dairy products, according to new monitoring data. What's the Story? Food prices increased in early 2026, with ASÍ basket rising 0.68% between February and March Largest increases in processed meat and dairy products; some fruit and vegetables decreased in price Price rises recorded across major retailers, including Nettó, Bónus and Extra Grocery store. Photo: Golli. Iceland Review. Meat & Dairy Lead Figures published by the Icelandic Confederation of Labour (ASÍ) show that its price index basket rose by 0.68% between February and March. Overall, food prices have increased more at the start of this year than during the same period in 2025. The rise has been observed across several product categories. Processed meat and dairy products recorded the most notable increases, while sweets and other animal-based goods also became more expensive. In contrast, some fresh produce, including oranges, mushrooms, root vegetables and onions, declined in price over the same period. Differences were also recorded between retailers. The largest overall increases so far this year were measured at Fjarðarkaup (3.0%), Nettó (2.3%) and Bónus (2.0%), although ASÍ noted that March figures for Fjarðarkaup were incomplete. On a monthly basis, prices rose most at Extra, followed by Krambúðinn and Nettó. Smaller increases were recorded at Krónan and Prís, where prices rose by around 0.3%. More on inflation and consumer costs in Iceland can be found in Iceland Review’s economic coverage.