Latvia: Inflation, GDP deflator (annual %)
In , Latvia's Inflation, GDP deflator (annual %) was 2.06.
That's down 80.7% from 2023, the highest value since .
The global average for this indicator in 2024 was 13.69 . Latvia ranks #144 globally out of 193 reporting countries. Within Europe & Central Asia, it ranks #43 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
- 19.55
- Trough
- -5.73
- 1-year change
- -80.7%
- 5-year change
- -52.3%
- -13.8% / yr
- 10-year change
- +23.2%
- +2.1% / yr
Historical Data — Last 10 Years
| Year | Inflation, GDP deflator (annual %) |
|---|---|
| 2.0570 | |
| 10.6725 | |
| 9.6925 | |
| 3.2973 | |
| 2.3933 | |
| 4.3164 | |
| 3.7403 | |
| 2.7092 | |
| 0.6079 | |
| 0.3869 |
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 Latvia's Inflation, GDP deflator (annual %) in 2024?
- In 2024, Latvia's Inflation, GDP deflator (annual %) was 2.06, according to World Bank Open Data.
- Is Latvia's Inflation, GDP deflator (annual %) rising or falling?
- Latvia's Inflation, GDP deflator (annual %) fell 80.7% from 2023 to 2024.
- How does Latvia rank globally on Inflation, GDP deflator (annual %)?
- In 2024, Latvia ranked #144 out of 193 countries reporting Inflation, GDP deflator (annual %).
- How does Latvia's Inflation, GDP deflator (annual %) compare to the world average?
- The global average for Inflation, GDP deflator (annual %) in 2024 was 13.69, so Latvia is below the world average. Within Europe & Central Asia, it ranks #43 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.