Iceland GDP Deflator
Inflation as measured by annual growth rate of GDP implicit deflator NY.GDP.DEFL.KD.ZG
Iceland's gdp deflator was 6.88% in 2025, ranked 85th globally. This represents a 14.2% increase from 2024. Data from World Bank, covering 1961–2025.
Overview
Iceland's gdp deflator stood at 6.88% in 2025, a rise of +0.86pp from 2024. Based on recent trends, this figure is projected to reach 6.88% by 2025. Iceland ranked 85th globally.
Iceland's GDP Deflator has exhibited significant fluctuations throughout its 65-year coverage period. At its peak in 1983, the deflator reached 77.31%, a stark contrast to its all-time trough of 0.49% in 2003. The country has since stabilized, with fluctuations largely contained within a narrower range. As of 2025, the deflator stands at 6.88%, placing Iceland at rank 85 globally. In comparison, peer country Cameroon has a deflator of 6.92%, while Cyprus' deflator is slightly lower at 6.80%. The 1983 peak coincided with the end of the 1970s oil crisis and a period of high inflation, while the 2003 trough occurred during the aftermath of the 2008 global financial crisis. Iceland's relatively stable deflator in recent years suggests a continued trend of price stability, although a significant deterioration in global economic conditions could potentially alter this trajectory.
Data & projection
| Year | GDP Deflator | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 7.38% | - | - |
| 2026* trend | 7.13% | - | - |
| 2025* trend | 6.88% | - | - |
| 2025 | 6.88% | +0.86pp | #85 |
| 2024 | 6.02% | +0.73pp | #139 |
| 2023 | 5.29% | −3.54pp | #105 |
| 2022 | 8.83% | +2.68pp | #128 |
| 2021 | 6.15% | +1.81pp | #128 |
| 2020 | 4.34% | −0.50pp | #149 |
| 2019 | 4.84% | +1.73pp | #169 |
| 2018 | 3.10% | +1.53pp | #110 |
| 2017 | 1.57% | −1.13pp | #58 |
| 2016 | 2.70% | −4.05pp | #129 |
| 2015 | 6.75% | +2.54pp | #177 |
| 2014 | 4.21% | +1.72pp | #146 |
| 2013 | 2.49% | −1.01pp | #115 |
| 2012 | 3.51% | +0.05pp | #99 |
| 2011 | 3.45% | −3.10pp | #79 |
Detected Pattern
Analysis
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw gdp deflator improve within 24 months. View full analysis →
Frequently Asked Questions
Iceland's gdp deflator was 6.88% in 2025. Ranked 85th globally. This represents a 14.2% increase from the previous year.
Iceland's gdp deflator peaked at 77.31% in 1983.
The lowest gdp deflator in Iceland was 0.49% in 2003.
Iceland ranks 85th globally in gdp deflator as of 2025.
The World Bank indicator code is NY.GDP.DEFL.KD.ZG. Data sourced from World Bank.
Iceland's gdp deflator is projected to reach 6.88% by 2025 based on trend extrapolation.
The gdp deflator of Iceland in 2025 was 6.88%. This ranks 85th in the world.
Cite this page
@misc{historysaid_iceland_gdp-deflator,
title = {Iceland GDP Deflator},
url = {https://historysaid.com/iceland/gdp-deflator/},
publisher = {HistorySaid},
year = {2026}
}