Iceland: Inflation, GDP deflator (annual %)
In , Iceland's Inflation, GDP deflator (annual %) was 6.02.
That's up 13.8% from 2023, the highest value since .
The global average for this indicator in 2024 was 13.69 . Iceland ranks #56 globally out of 193 reporting countries. Within Europe & Central Asia, it ranks #14 of 52.
Source: World Bank Open Data (NY.GDP.DEFL.KD.ZG) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 12.18
- Trough
- 1.57
- 1-year change
- +13.8%
- 5-year change
- +24.5%
- +4.5% / yr
- 10-year change
- +42.9%
- +3.6% / yr
Historical Data — Last 10 Years
| Year | Inflation, GDP deflator (annual %) |
|---|---|
| 6.0197 | |
| 5.2896 | |
| 8.8318 | |
| 6.1486 | |
| 4.3411 | |
| 4.8368 | |
| 3.1046 | |
| 1.5737 | |
| 2.6988 | |
| 6.7516 |
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 Iceland's Inflation, GDP deflator (annual %) in 2024?
- In 2024, Iceland's Inflation, GDP deflator (annual %) was 6.02, according to World Bank Open Data.
- Is Iceland's Inflation, GDP deflator (annual %) rising or falling?
- Iceland's Inflation, GDP deflator (annual %) rose 13.8% from 2023 to 2024.
- How does Iceland rank globally on Inflation, GDP deflator (annual %)?
- In 2024, Iceland ranked #56 out of 193 countries reporting Inflation, GDP deflator (annual %).
- How does Iceland's Inflation, GDP deflator (annual %) compare to the world average?
- The global average for Inflation, GDP deflator (annual %) in 2024 was 13.69, so Iceland is below the world average. Within Europe & Central Asia, it ranks #14 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.