It would only cost you something between USD 6.59 to 15.07 to have lunch and be on your way sight-seeing. Iceland Food Costs. Food Budget in Iceland Average Daily Costs. The basic plan involves bringing a few snacks from … Based on the spending habits of previous travelers, when dining out an average meal in Iceland should cost around kr1,513 per person. It is not a custom to pay tips in Iceland but some restaurants have jars for tips and are extra glad when someone gives them tips. These estimates are based on data that may have some inconsistencies at the moment. The University of Iceland in Reykjavik is the main institution for both local and international students. During our short stay in Iceland, we definitely spent more on food than we usually average – and more than we originally budgeted. We thought we couldn’t go wrong by ordering a pizza for take-away, but we were hit with sticker shock. We were pretty happy that we spent less than $50 on meals for two people for our whole 6 days in Iceland. Average Daily Food Cost: $60-$105 USD Freshly baked crossaints at Brauð & Co. bakery in Reykjavík. While meal prices in Iceland can vary, the average cost of food in Iceland is kr3,783 per day. Currency: Sticky Currency Switch to metric measurement units. Taxes on food in Iceland is 7% but when you calculate your cost of eating out you don´t have to add them to your food bill since it is already included. Food prices in Iceland can be very high, yes, but spending close to $50/day is completely unnecessary! Even though I saved money on breakfast (included in my hostel stay), I would suggest budgeting $20-$35 USD per meal. Eating in Iceland doesn’t have to be expensive if you strategize in advance. Food Prices in Iceland. Prices for inexpensive restaurants and fast food cafes. A large mediocre-tasting meat pizza cost around $30 USD. Dining in Iceland will cost handsomely especially if you want to indulge in the native Icelandic cuisines mainly because food products are costly. I managed to spend less than half that amount during a full nine days on the island. Food in Iceland is extremely expensive. Summary of cost of living in Iceland. View fullsize. And this is about as low as the food prices in Iceland go. Check out these foods to try in Iceland. Outside of the cities it was easier to motivate ourselves to cook but we still managed to spend nearly 700 ISK ($6USD) on our afternoon hotdog from a passing gas station. A typical lamb entree at an average restaurant will run 4000-5000ISK ($33-41USD). For soup and bread, you will part with USD 12.25 up to 29.61. Dinner. We cooked all our meals at campsites or made them on the road. Food and Snack Costs in Iceland. Calculated from travelers like you. Add data for Iceland. Select city in Iceland: Do you live in Iceland? 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