Philippines: Inflation, GDP deflator (annual %)
In , Philippines's Inflation, GDP deflator (annual %) was 2.91.
That's down 36.7% from 2023, the highest value since .
The global average for this indicator in 2024 was 13.69 . Philippines ranks #126 globally out of 193 reporting countries. Within East Asia & Pacific, it ranks #15 of 30.
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
- 7.18
- Trough
- -0.72
- 1-year change
- -36.7%
- 5-year change
- +318.1%
- +33.1% / yr
- 10-year change
- -4.5%
- -0.5% / yr
Historical Data — Last 10 Years
| Year | Inflation, GDP deflator (annual %) |
|---|---|
| 2.9142 | |
| 4.6014 | |
| 5.4886 | |
| 2.2825 | |
| 1.6505 | |
| 0.6971 | |
| 3.7407 | |
| 2.3203 | |
| 1.2803 | |
| -0.7197 |
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 Philippines's Inflation, GDP deflator (annual %) in 2024?
- In 2024, Philippines's Inflation, GDP deflator (annual %) was 2.91, according to World Bank Open Data.
- Is Philippines's Inflation, GDP deflator (annual %) rising or falling?
- Philippines's Inflation, GDP deflator (annual %) fell 36.7% from 2023 to 2024.
- How does Philippines rank globally on Inflation, GDP deflator (annual %)?
- In 2024, Philippines ranked #126 out of 193 countries reporting Inflation, GDP deflator (annual %).
- How does Philippines's Inflation, GDP deflator (annual %) compare to the world average?
- The global average for Inflation, GDP deflator (annual %) in 2024 was 13.69, so Philippines is below the world average. Within East Asia & Pacific, it ranks #15 of 30.
- 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.