Monaco GDP Deflator

Monaco’s GDP deflator in 2025 stood at 3.70 percent, placing the principality 145th in the World Bank ranking and marginally below its closest peer New Zealand’s 3.73 percent and near Puerto Rico’s 3.68 percent. Over the 55‑year series, the deflator has fallen from an early‑record high of 5.98 percent in 1971 to an all‑time peak of 13.66 percent in 1975, a year that coincided with the global oil shock and widespread price inflation. The lowest point occurred in 2004, when the index registered a negative 0.24 percent, reflecting deflationary pressures in the early 2000s. Throughout the decades, Monaco’s price level has shown modest volatility, with recent values clustering around the low‑single‑digit range that characterises many high‑income economies. Assuming continued fiscal discipline and limited exposure to commodity price swings, the deflator is likely to remain stable, though a sudden shift in global monetary conditions could alter the trajectory.