West Bank and Gaza Inflation Rate
Consumer price inflation, annual % FP.CPI.TOTL.ZG
West Bank and Gaza's inflation rate was 53.67% in 2024, ranked 188th globally. This represents a 814.0% increase from 2023. Data from World Bank, covering 1997–2024.
Overview
West Bank and Gaza's inflation rate stood at 53.67% in 2024, a rise of +47.80pp from 2023. West Bank and Gaza ranked 188th globally.
West Bank and Gaza’s inflation rate has surged to 53.67 % in 2024, the highest level recorded since the series began in 1997 and placing the territory 188th in the World Bank’s global ranking. The dramatic rise follows a brief deflationary episode in 2020, when the index fell to –0.74 %, marking the all‑time trough for the 28‑year series. By contrast, Lebanon’s inflation of 45.24 % and Türkiye’s 58.51 % illustrate the volatile environment of neighboring economies that share similar fiscal pressures and exchange‑rate constraints. The steep climb from a 7.09 % rate in 1997 reflects the cumulative impact of fiscal deficits, restricted monetary policy tools, and external shocks such as commodity price spikes. If fiscal consolidation and targeted subsidies are introduced, the upward trajectory could be moderated; otherwise, the current momentum suggests inflation will remain elevated in the near term.
Data & projection
| Year | Inflation Rate | YoY change | Rank |
|---|---|---|---|
| 2024 | 53.67% | +47.80pp | #188 |
| 2023 | 5.87% | +2.13pp | #98 |
| 2022 | 3.74% | +2.50pp | #27 |
| 2021 | 1.24% | +1.95pp | #24 |
| 2020 | -0.74% | −2.29pp | #16 |
| 2019 | 1.58% | +1.78pp | #73 |
| 2018 | -0.20% | −0.41pp | #6 |
| 2017 | 0.21% | +0.43pp | #12 |
| 2016 | -0.22% | −1.65pp | #38 |
| 2015 | 1.43% | −0.30pp | #100 |
| 2014 | 1.73% | +0.01pp | #87 |
| 2013 | 1.72% | −1.06pp | #67 |
| 2012 | 2.78% | −0.10pp | #72 |
| 2011 | 2.88% | −0.87pp | #38 |
| 2010 | 3.75% | +1.00pp | #113 |
Detected Pattern
Analysis
West Bank and Gaza matched the Export Boom Cycle pattern in 2008. Historically, 71% of countries showing this pattern (546 out of 768) saw inflation rate improve within 24 months. View full analysis →
Frequently Asked Questions
West Bank and Gaza's inflation rate was 53.67% in 2024. Ranked 188th globally. This represents a 814.0% increase from the previous year.
West Bank and Gaza's inflation rate peaked at 53.67% in 2024.
The lowest inflation rate in West Bank and Gaza was -0.74% in 2020.
West Bank and Gaza ranks 188th globally in inflation rate as of 2024.
The World Bank indicator code is FP.CPI.TOTL.ZG. Data sourced from World Bank.
The inflation rate of West Bank and Gaza in 2024 was 53.67%. This ranks 188th in the world.
Cite this page
@misc{historysaid_west-bank-and-gaza_inflation-rate,
title = {West Bank and Gaza Inflation Rate},
url = {https://historysaid.com/west-bank-and-gaza/inflation-rate/},
publisher = {HistorySaid},
year = {2026}
}