Inflation, GDP deflator (annual %) in Bermuda
Bermuda: Inflation, GDP deflator was 4.9% in 2024. ◆ Volatile
Inflation, GDP deflator in Bermuda, 1961–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual %.
Analysis
In 2024, inflation, gdp deflator in Bermuda stood at 4.9%.
That represents a change of down 20.2% on the previous year and up 62.8% over ten years.
Over the whole period, inflation, gdp deflator in Bermuda peaked at 29.4% in 1996 and was at its lowest, -4.2%, in 2000.
That places Bermuda 66th out of 214 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Inflation, GDP deflator in Bermuda, year by year
| Year | annual % | Change |
|---|---|---|
| 1961 | 0.9% | — |
| 1962 | 1.0% | +4.0% |
| 1963 | 1.3% | +30.1% |
| 1964 | 0.5% | -63.7% |
| 1965 | 1.5% | +216.9% |
| 1966 | 2.6% | +78.5% |
| 1967 | 3.5% | +33.4% |
| 1968 | 9.0% | +158.1% |
| 1969 | 6.3% | -30.1% |
| 1970 | 6.3% | -0.2% |
| 1971 | 9.5% | +52.3% |
| 1972 | 9.5% | -0.2% |
| 1973 | 12.8% | +34.5% |
| 1974 | 15.0% | +17.0% |
| 1975 | 6.4% | -57.6% |
| 1976 | 2.8% | -56.2% |
| 1977 | 9.3% | +233.0% |
| 1978 | 4.9% | -46.9% |
| 1979 | 6.4% | +30.4% |
| 1980 | 9.9% | +53.6% |
| 1981 | 17.7% | +79.7% |
| 1982 | 12.2% | -31.1% |
| 1983 | 11.0% | -9.9% |
| 1984 | 10.3% | -6.4% |
| 1985 | 7.6% | -26.1% |
| 1986 | 5.8% | -23.4% |
| 1987 | 6.5% | +11.2% |
| 1988 | 4.9% | -24.6% |
| 1989 | 5.6% | +15.2% |
| 1990 | 6.0% | +7.0% |
| 1991 | 6.4% | +6.6% |
| 1992 | 2.8% | -56.2% |
| 1993 | 5.2% | +84.7% |
| 1994 | 2.0% | -62.3% |
| 1995 | 4.2% | +113.2% |
| 1996 | 29.4% | +602.8% |
| 1997 | 4.0% | -86.3% |
| 1998 | 2.7% | -31.9% |
| 1999 | 2.7% | -1.1% |
| 2000 | -4.2% | -256.2% |
| 2001 | -1.4% | -67.7% |
| 2002 | 8.6% | -726.7% |
| 2003 | 2.8% | -67.1% |
| 2004 | 4.7% | +66.1% |
| 2005 | 6.8% | +44.1% |
| 2006 | 19.6% | +189.5% |
| 2007 | 6.6% | -66.4% |
| 2008 | 5.1% | -22.3% |
| 2009 | 1.0% | -79.6% |
| 2010 | 2.2% | +114.3% |
| 2011 | -1.2% | -151.5% |
| 2012 | 6.7% | -681.8% |
| 2013 | 1.7% | -75.3% |
| 2014 | 3.0% | +81.7% |
| 2015 | 3.0% | -2.0% |
| 2016 | 4.4% | +48.1% |
| 2017 | -0.1% | -102.2% |
| 2018 | 1.6% | -1798.9% |
| 2019 | 2.4% | +50.1% |
| 2020 | -0.3% | -111.1% |
| 2021 | 1.0% | -484.0% |
| 2022 | 0.3% | -72.8% |
| 2023 | 6.1% | +2091.2% |
| 2024 | 4.9% | -20.2% |
Bermuda compared with similar countries
- Bermuda's 4.9% is above the median for high income countries, which is 2.6%, 1.9× the median. (82 countries reporting)
Biggest year-on-year movements
Years where Inflation, GDP deflator in Bermuda changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2023 | +2091.2% | 0.3% | 6.1% |
| 2018 | +1798.9% | -0.1% | 1.6% |
| 2002 | +726.7% | -1.4% | 8.6% |
| 2012 | +681.8% | -1.2% | 6.7% |
| 1996 | +602.8% | 4.2% | 29.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 2.9% | 0.5% | 9.0% | 9 |
| 1970s | 8.3% | 2.8% | 15.0% | 10 |
| 1980s | 9.2% | 4.9% | 17.7% | 10 |
| 1990s | 6.5% | 2.0% | 29.4% | 10 |
| 2000s | 5.0% | -4.2% | 19.6% | 10 |
| 2010s | 2.4% | -1.2% | 6.7% | 10 |
| 2020s | 2.4% | -0.3% | 6.1% | 5 |
Countries ranked near Bermuda
- 63 United States Virgin Islands 5.0% compare
- 64 Solomon Islands 5.0% compare
- 65 Saint Vincent and the Grenadines 4.9% compare
- 67 Russia 4.9% compare
- 68 Jamaica 4.8% compare
- 69 Tajikistan 4.8% compare
More economy & growth data for Bermuda
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0128 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), gaps 33.80 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0037 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 522.99 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 117.84 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -21.86 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 1,823 BoP, current US$ per person (2024)
- General government final consumption expenditure (current LCU) 4.44 % change on previous year (2024)
- General government final consumption expenditure (current US$), per 15,245 current US$ per person (2024)
- General government final consumption expenditure (current US$), per 0.1072 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is inflation, gdp deflator in Bermuda?
- Inflation, gdp deflator in Bermuda was 4.9% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest inflation, gdp deflator recorded in Bermuda?
- The highest recorded value was 29.4% in 1996.
- What is the lowest inflation, gdp deflator recorded in Bermuda?
- The lowest recorded value was -4.2% in 2000.
- How does Bermuda rank for inflation, gdp deflator?
- Bermuda ranks 66th out of 214 countries with data for 2024.
- Is inflation, gdp deflator rising or falling in Bermuda?
- Over the last ten years it is up 62.8%. The long-run trend across the full record is volatile.
- Where does this Bermuda data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Inflation, GDP deflator (annual %). Statizoid updates them automatically from the source API.
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About this data
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.