Iceland was severely hit by the financial crisis and the currency shock caused a severe jump in the domestic price level reflected by the annual inflation rate in January 2009 of 21.6%, the highest percentage for Iceland in 2009 and also the highest among EFTA and EU27 countries in this year. However, since June 2009, the Icelandic annual inflation rate decreased progressively to reach in December its lowest rate for the year 2009 of 11.3%.  

Contrary to Iceland, Norway and Switzerland had relatively low stable annual inflation rates in 2009 considering all items. Annual inflation rates in Switzerland for year 2009 varied between -1.4% and 0.2% in December. December was the only month in 2009 where Switzerland had a positive annual inflation rate.

Norway had its highest annual inflation rate in June with 3.5% and the lowest was observed in October with 0.8%. In December, the annual inflation rate for Norway was 2.4%.    

Annual inflation rate for EU27 varied through 2009 between 1.8 and 0.2%, and in December the annualized rate was 1.4%. Euro Area annual inflation rate varied between 1.2 and -0.6%, and was 0.9% in December.

More information: Eurostat