Iceland
Compared with Colombia, using real observed prices.
Baseline: 
Colombia = 1×
Iceland
vs
Colombia
Overall verdict
Iceland is about 1.20× Colombia.
Average across 2 categories, 3 items with data
The shape of prices (vs Colombia = 1×)
How to read this
The centre line is Colombia. A bar running right means Iceland is pricier; running left means cheaper. The thin bar behind shows the range from the cheapest to the priciest item in that category.
← Cheaper than Colombia
Colombia = 1×
Iceland is pricier →
Colombia
Colombia = 1×
Iceland is pricier →
Thin bar shows the range (cheapest to priciest item in the category)
In Iceland, Diesel 1L costs 2.1× what it does in Colombia — but Electricity 1kWh (household) costs only 0.9×. What is expensive here is energy, not the goods that carry a world price.
Real prices. Real sources. Real dates.
-
Diesel 1L 1 L ×2.05Iceland
COP 6,924
USD 1.878Colombia
COP 3,373
USD 0.915
-
Gasoline 1L 1 L ×1.34Iceland
COP 6,367
USD 1.727Colombia
COP 4,737
USD 1.285
-
Electricity 1kWh (household) 1 kWh ×0.86Iceland
COP 660
USD 0.179Colombia
COP 763
USD 0.207
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