PRICES IN ICELAND
Iceland is a small island nation located in the north Atlantic Ocean in the westernmost part of Europe. Eleven percent of the country's territory, which covers an area of 103,000 km2, is covered with glacial ice and surrounded by water. Iceland is a very beautiful country with amazing nature and mild climate. The population in 2025 is about 396 thousand people.
The average salary in Iceland in 2025 is about 868,000 Icelandic króna per month ($6,565). At the same time, Icelandic men earn an average of 18% more than women, and incomes in the public and private sectors are practically the same. The minimum wage in Iceland is set at 425,985 króna per month ($3,220).
Note. At the current (official) exchange rate, 1 Icelandic krona corresponds to $0.0071/€0.0070.
Next, let's highlight the average prices of food and some other goods/services in Iceland in 2025.
PRICES IN ICELAND IN 2025
| Product | Price |
| Milk (1 liter) | 231.60 Kr/1.62 € |
| Loaf of fresh white bread (500g) | 509.10 Kr/3.57 € |
| Rice (white) (1 kg) | 435.35 Kr/3.05 € |
| Eggs (12 pcs.) | 807.98 Kr/5.67 € |
| Local cheese (1 kg) | 2,231.67 Kr/15.65 € |
| Chicken fillet (1 kg) | 2,899.17 Kr/20.33 € |
| Apples (1 kg) | 390.34 Kr/2.74 € |
| Banana (1 kg) | 308.99 Kr/2.17 € |
| Orange (1 kg) | 364.19 Kr/2.55 € |
| Tomato (1 kg) | 649.67 Kr/4.56 € |
| Potato (1 kg) | 452.29 Kr/3.17 € |
| Onion (1 kg) | 279.84 Kr/1.96 € |
| Lettuce (1 head) | 424.75 Kr/2.98 € |
| Water (1.5 liter bottle) | 294.26 Kr/2.06 € |
| Bottle of wine (medium level) | 3,000.00 Kr/21.04 € |
| Local beer (0,5 liter bottle) | 459.45 Kr/3.22 € |
| Imported beer (0.33 liter bottle) | 383.18 Kr/2.69 € |
| Pack of 20 cigarettes (Marlboro) | 1,725.00 Kr/12.10 € |
Important. Prices in Iceland are higher than in most European countries.
| Goods/services | Price |
| Public transportation | 630.00 Kr/4.42 € |
| Monthly pass | 10,400.00 Kr/80.43 € |
| Cab 1 km (normal fare) | 324.00 Kr/2.27 € |
| Gasoline (1 liter) | 311.70 Kr/2.19 € |
| Utilities (monthly) for an 85m2 apartment | 10,700.03 Kr/75.04 € |
| Monthly mobile tariff plan | 3,427.78 Kr/24.04 € |
| Internet (60 Mbps or more) | 10,278.75 Kr/72.08 € |
| Fitness club, monthly fee for 1 adult | 9,962.76 Kr/69.87 € |
| Tennis court rental (1 hour) | 5,271.43 Kr/36.97 € |
| Movie theater (international rental) 1 seat | 2,050.00 Kr/14.38 € |
| A pair of jeans (Levis 501 or similar) | 17,639.45 Kr/123.70 € |
| One summer dress in a chain store (Zara, H&M...) | 7,831.11 Kr/54.92 € |
| A pair of mid-range sneakers (nike, adidas...) | 22,222.73 Kr/155.84 € |
| Pair of men's leather business shoes | 31,233.82 Kr/219.03 € |
| Standard men's haircut | 7,963 Kr/55.84 € |
| Tube of toothpaste | 577.00 Kr/4.05 € |
| 4 rolls of toilet paper | 863.00 Kr/6.05 € |
| Rental apartment (1 bedroom) in the city center | 280,555.56 Kr/1,967.43 € |
| Rental apartment (3 bedrooms) in the city center | 393,961.54 Kr/2,762.70 € |
Note. Price information is based on current data from official statistical offices and surveys of local residents in different Icelandic cities.
Iceland's economy is largely based on fishing and the production of a wide range of fish products, but also includes industry and services. The income tax rate varies from 31.45% to 46.25%, and the unemployment rate does not exceed 5%. The main industries for job search in Iceland are the fishing industry, tourism and information technology.
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