Iceland: Monetary freedom

The latest value from 2024 is 73.4 points, a decline from 77.4 points in 2023. In comparison, the world average is 67.58 points, based on data from 174 countries. Historically, the average for Iceland from 1997 to 2024 is 80.01 points. The minimum value, 68.6 points, was reached in 2011 while the maximum of 88.8 points was recorded in 2006. See the global rankings for that indicator or use the country comparator to compare trends over time.

The Monetary Freedom index for Iceland from The Heritage Foundation reflects the stability of prices in Iceland and the use of price controls by the government. Price stability with minimal price controls is the ideal state for the free market.

Definition: The score for the Monetary freedom index is based on two factors: the weighted average inflation rate for the most recent three years and price controls. Higher index values denote price stability without microeconomic intervention.