Verðin

Verðin is the Icelandic definite plural of verð, meaning "the prices." It is used to refer to the prices of goods and services, either in general or for a specific set of items, such as verðin á bensíni (the prices of gasoline). In everyday speech, the word is common when discussing cost of living or price changes.

In economics, verðin denotes the overall price level in an economy and the process by which prices move. Factors such as supply and demand, production costs, currency movements, and monetary policy influence verðin. A rise in verðin over time is called verðbólga (inflation), which reduces purchasing power if wages do not keep pace.

Statistical agencies monitor verðin using price indices. In Iceland, the neysluverðsvísitala (consumer price index) tracks changes in the cost of a representative basket of goods and services. Central banks may publish analyses of verðin trends, inflation expectations, and their implications for monetary policy.

Etymology: verðin derives from verð meaning "price," with the definite plural ending -in, forming "the prices." The term is primarily used in Icelandic-language discourse, though in English-language contexts it is typically translated as "the prices" or "price level." Related concepts include price, pricing, inflation (verðbólga), and price indices.