Iceland
Compared with United Kingdom, using real observed prices.
Baseline: 
United Kingdom = 1×
Iceland
vs
United Kingdom
Overall verdict
Iceland is about 0.61× United Kingdom.
Average across 2 categories, 3 items with data
The shape of prices (vs United Kingdom = 1×)
How to read this
The centre line is United Kingdom. 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 United Kingdom
United Kingdom = 1×
Iceland is pricier →
United Kingdom
United Kingdom = 1×
Iceland is pricier →
Thin bar shows the range (cheapest to priciest item in the category)
In Iceland, Gasoline 1L costs 0.8× what it does in United Kingdom — but Electricity 1kWh (household) costs only 0.4×. What is expensive here is energy, not the goods that carry a world price.
Real prices. Real sources. Real dates.
-
Gasoline 1L 1 L ×0.85Iceland
£1.30
USD 1.727United Kingdom
£1.54
USD 2.037
-
Diesel 1L 1 L ×0.84Iceland
£1.42
USD 1.878United Kingdom
£1.69
USD 2.235
-
Electricity 1kWh (household) 1 kWh ×0.45Iceland
£0.13
USD 0.179United Kingdom
£0.30
USD 0.402
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