Faroe Islands: Inflation, GDP deflator (annual %)
In , Faroe Islands's Inflation, GDP deflator (annual %) was 2.00.
That's down 32.2% from 2023, the highest value since .
The global average for this indicator in 2024 was 13.69 . Faroe Islands ranks #146 globally out of 193 reporting countries. Within Europe & Central Asia, it ranks #44 of 52.
Source: World Bank Open Data (NY.GDP.DEFL.KD.ZG) • Data as of 2024
Trend (2009–2024)
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 7.87
- Trough
- -2.40
- 1-year change
- -32.2%
- 5-year change
- -43.0%
- -10.6% / yr
- 10-year change
- -25.3%
- -2.9% / yr
Historical Data — Last 10 Years
| Year | Inflation, GDP deflator (annual %) |
|---|---|
| 1.9955 | |
| 2.9440 | |
| 5.8965 | |
| 3.4255 | |
| -0.1116 | |
| 3.4999 | |
| -0.4254 | |
| 0.3759 | |
| 7.8664 | |
| 4.8786 |
About Inflation, GDP deflator (annual %)
Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.
Indicator code: NY.GDP.DEFL.KD.ZG • Category: Economy
Frequently asked questions
- What was Faroe Islands's Inflation, GDP deflator (annual %) in 2024?
- In 2024, Faroe Islands's Inflation, GDP deflator (annual %) was 2.00, according to World Bank Open Data.
- Is Faroe Islands's Inflation, GDP deflator (annual %) rising or falling?
- Faroe Islands's Inflation, GDP deflator (annual %) fell 32.2% from 2023 to 2024.
- How does Faroe Islands rank globally on Inflation, GDP deflator (annual %)?
- In 2024, Faroe Islands ranked #146 out of 193 countries reporting Inflation, GDP deflator (annual %).
- How does Faroe Islands's Inflation, GDP deflator (annual %) compare to the world average?
- The global average for Inflation, GDP deflator (annual %) in 2024 was 13.69, so Faroe Islands is below the world average. Within Europe & Central Asia, it ranks #44 of 52.
- What is Inflation, GDP deflator (annual %) and how is it measured?
- Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.
Source: World Bank Open Data (NY.GDP.DEFL.KD.ZG), CC BY 4.0.