A bottle of beer from a known brand: 3.10 USD (391 ISK) A sausage or cold cuts (1 kg): 20 USD (2,500 ISK) A mid-range wine (one bottle): 20 USD (2,500 ISK)
The price for alcohol is higher in Iceland than in all the other European Union and EFTA countries. According to statistics published by Eurostat, in 2019 the price of alcoholic beverages was 165% higher in Iceland than the average in the European Union.
A box of wine will run you about $36 USD but that's almost 4 bottles. And a 6-pack of local beer will run you about $13.
You can buy a Big Mac in the US for $3.06, for the equivalent of $1.27 in China but it would cost you $6.67 in Iceland. According to the Economist, “burgernomics is based on the theory of purchasing-power parity (PPP), the notion that a dollar should buy the same amount in all countries.
Cost of Living in IcelandRestaurantsEditDomestic Beer (1 pint draught)1,200.00krImported Beer (12 oz small bottle)1,000.00krCappuccino (regular)581.08krCoke/Pepsi (12 oz small bottle)331.57kr