Prices go down or pretty set with EasyJet?
 

So looking at a flight in December. It’s about €300 one way - once I add in luggage. Bad fare almost €200. This is for Milan to KEF. They seem to be the only nonstop option. Bite or wait?

Def wait. 200 EUR is quite high for low season (unless we are taling about the last 10 days in Dec)

It's hard to say with easyJet I generally think the prices tend to only go up, more so compared with other major low cost carriers but its not always the case. Do you fly with U2 often? It might be worth looking at easyJet Plus as the seat selection and baggage fees on that flight alone would cover a good chunk of the cost.

Iceland is often expensive, we did a trip this year and booked the flights when they were released and was around £97 without any extras.

I've seen prices slip down, but with the lower fare labelled as a "sale" offer - which I believe would remove it from the scope of the easyJet Plus price offer.