Inflation, GDP deflator (annual %) in Greenland
Greenland: Inflation, GDP deflator (annual %) was 1.9% in 2023. ◆ Volatile
Inflation, GDP deflator in Greenland, 1971–2023
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual %.
Analysis
The most recent figure for inflation, gdp deflator in Greenland is 1.9%, measured in 2023.
The figure is down 66.8% on the previous year and up 74.6% over ten years.
Over the whole period, inflation, gdp deflator in Greenland peaked at 16.4% in 1975 and was at its lowest, -3.2%, in 2005.
That places Greenland 158th out of 214 countries with data for 2023, 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 (annual %) in Greenland, year by year
| Year | annual % | Change |
|---|---|---|
| 1971 | 11.4% | — |
| 1972 | 5.7% | -50.2% |
| 1973 | 7.7% | +34.4% |
| 1974 | 15.6% | +103.0% |
| 1975 | 16.4% | +5.6% |
| 1976 | 13.2% | -19.7% |
| 1977 | 7.0% | -47.1% |
| 1978 | 9.3% | +32.9% |
| 1979 | 7.5% | -19.1% |
| 1980 | 11.6% | +54.1% |
| 1981 | 14.9% | +29.1% |
| 1982 | 13.0% | -12.8% |
| 1983 | 9.7% | -25.3% |
| 1984 | 8.9% | -8.7% |
| 1985 | 7.4% | -16.3% |
| 1986 | 4.1% | -44.4% |
| 1987 | 4.6% | +11.9% |
| 1988 | 6.4% | +37.4% |
| 1989 | 5.3% | -15.8% |
| 1990 | 5.1% | -4.8% |
| 1991 | 3.2% | -36.7% |
| 1992 | 1.5% | -52.1% |
| 1993 | 1.0% | -32.6% |
| 1994 | 0.5% | -55.1% |
| 1995 | 2.1% | +338.9% |
| 1996 | 1.0% | -52.3% |
| 1997 | 0.5% | -49.3% |
| 1998 | 1.0% | +97.0% |
| 1999 | 1.1% | +8.4% |
| 2000 | 2.1% | +99.0% |
| 2001 | 3.4% | +61.2% |
| 2002 | 3.1% | -8.8% |
| 2003 | 6.5% | +110.5% |
| 2004 | -0.5% | -108.2% |
| 2005 | -3.2% | +499.7% |
| 2006 | 2.2% | -169.3% |
| 2007 | -0.0% | -102.1% |
| 2008 | -2.0% | +4137.2% |
| 2009 | 5.5% | -375.1% |
| 2010 | 2.0% | -63.4% |
| 2011 | 2.9% | +42.2% |
| 2012 | 3.4% | +19.5% |
| 2013 | 1.1% | -69.0% |
| 2014 | 1.0% | -7.2% |
| 2015 | 8.1% | +722.4% |
| 2016 | 3.5% | -56.6% |
| 2017 | 3.3% | -7.7% |
| 2018 | 1.8% | -43.5% |
| 2019 | 0.7% | -59.7% |
| 2020 | 0.9% | +15.4% |
| 2021 | 0.8% | -7.1% |
| 2022 | 5.6% | +602.3% |
| 2023 | 1.9% | -66.8% |
Greenland compared with similar countries
- Greenland's 1.9% is below the median for high income countries, which is 2.6%, 71% of the median. (82 countries reporting)
- Greenland's 1.9% is below the median for Europe & Central Asia, which is 3.5%, 54% of the median. (56 countries reporting)
Biggest year-on-year movements
Years where Inflation, GDP deflator (annual %) in Greenland 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 |
|---|---|---|---|
| 2008 | -4137.2% | -0.0% | -2.0% |
| 2015 | +722.4% | 1.0% | 8.1% |
| 2022 | +602.3% | 0.8% | 5.6% |
| 2005 | -499.7% | -0.5% | -3.2% |
| 2009 | +375.1% | -2.0% | 5.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 10.4% | 5.7% | 16.4% | 9 |
| 1980s | 8.6% | 4.1% | 14.9% | 10 |
| 1990s | 1.7% | 0.5% | 5.1% | 10 |
| 2000s | 1.7% | -3.2% | 6.5% | 10 |
| 2010s | 2.8% | 0.7% | 8.1% | 10 |
| 2020s | 2.3% | 0.8% | 5.6% | 4 |
Countries ranked near Greenland
- 155 Italy 2.0% compare
- 156 Trinidad and Tobago 2.0% compare
- 157 Dominica 2.0% compare
- 159 French Polynesia 1.8% compare
- 160 Tuvalu 1.8% compare
- 161 Cape Verde 1.7% compare
More economy & growth data for Greenland
- Final consumption expenditure (current LCU), per capita 299,448 current LCU per person (2023)
- Gross national expenditure (current US$), annual growth rate 4.12 % change on previous year (2023)
- Final consumption expenditure (constant 2015 US$), per capita 40,333 constant 2015 US$ per person (2023)
- Final consumption expenditure (constant 2015 US$), per unit of GDP 0.6895 constant 2015 US$ per US$ of GDP (2023)
- Final consumption expenditure (constant 2015 US$), annual growth rate 1.24 % change on previous year (2023)
- Final consumption expenditure (current LCU), annual growth rate 3.24 % change on previous year (2023)
- Final consumption expenditure (current US$), per unit of GDP 0.743 current US$ per US$ of GDP (2023)
- Final consumption expenditure (current US$), per capita 43,463 current US$ per person (2023)
- Gross national expenditure (current US$), per unit of GDP 1.1 current US$ per US$ of GDP (2023)
- Final consumption expenditure (current LCU), per unit of GDP 5.12 current LCU per US$ of GDP (2023)
Frequently asked questions
- What is inflation, gdp deflator in Greenland?
- Inflation, gdp deflator in Greenland was 1.9% in 2023, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest inflation, gdp deflator recorded in Greenland?
- The highest recorded value was 16.4% in 1975.
- What is the lowest inflation, gdp deflator recorded in Greenland?
- The lowest recorded value was -3.2% in 2005.
- How does Greenland rank for inflation, gdp deflator?
- Greenland ranks 158th out of 214 countries with data for 2023.
- Is inflation, gdp deflator rising or falling in Greenland?
- Over the last ten years it is up 74.6%. The long-run trend across the full record is volatile.
- Where does this Greenland 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.