Iceland vs Latvia
108% dearer than — Iceland against Latvia
On national price levels, Iceland is 108% dearer than Latvia. Both figures use the United States as 100.
Where the difference actually sits
A single number hides the interesting part. These are the categories Eurostat prices for both countries.
| Category | Iceland | Latvia | Difference |
|---|---|---|---|
| Overall consumption (incl. government-funded services) | 115.8 | 51.7 | +124% |
| Food and non-alcoholic drinks | 143.9 | 105.4 | +37% |
| Bread and cereals | 150.8 | 102.3 | +47% |
| Meat | 172.5 | 81.7 | +111% |
| Fish | 110.1 | 106.5 | +3% |
| Milk, cheese and eggs | 171.7 | 114.4 | +50% |
| Fruit and vegetables | 136.1 | 102.9 | +32% |
| Non-alcoholic drinks | 129.4 | 129.8 | -0% |
| Alcoholic drinks | 285.1 | 136.8 | +108% |
| Tobacco | 183.2 | 78.3 | +134% |
| Clothing and footwear | 143.4 | 102.2 | +40% |
| Housing, water, electricity and fuel | 164.0 | 55.0 | +198% |
| Furnishings and household equipment | 124.4 | 93.3 | +33% |
| Health | 233.5 | 59.5 | +292% |
| Transport | 135.7 | 83.2 | +63% |
| Communication | 154.4 | 93.9 | +64% |
| Recreation and culture | 154.2 | 91.5 | +69% |
| Education | 211.5 | 66.4 | +219% |
| Restaurants and hotels | 167.3 | 90.9 | +84% |
SOURCE·Eurostat — purchasing power parities (prc_ppp_ind)·Price level indices by consumption category, published on an EU27=100 basis and rebased here to US=100. CC BY 4.0.·REVIEWED AUG 2026
Before you use this to decide anything
- These are national averages. Comparing two capital cities is a different question and this data cannot answer it.
- Price level is only half of the decision. What matters is prices relative to what you would earn — see what the job pays in each country on PayLens.
- The figures are indices, not prices. Nothing here is a quote for rent or groceries.
How the price level is worked out
- The World Bank publishes a purchasing power parity for household consumption — how much local currency buys the same basket as one US dollar — and the official market exchange rate for the same year.
- The price level is simply PPP ÷ exchange rate × 100. If a basket needs 1.50 New Zealand dollars per US dollar of purchasing power but the market hands you 1.65 New Zealand dollars for that dollar, New Zealand's prices sit at 1.50 ÷ 1.65 = 91% of the US level.
- Nothing is modelled, smoothed or estimated. You can reproduce every number on this site from two public figures.
- Where Eurostat also publishes a price level for the same country and year, the two are compared and the gap is printed — including when they disagree.
SOURCE·World Bank — International Comparison Program·PPP conversion factor for household final consumption, and the official market exchange rate. CC BY 4.0.·REVIEWED AUG 2026
SOURCE·World Bank ICP PPPs + Eurostat price level indices·price levels derived as PPP ÷ exchange rate, see method·REVIEWED AUG 2026