Inflation, GDP deflator (annual %) in Iceland
Iceland: Inflation, GDP deflator (annual %) was 6.9% in 2025. ◆ Volatile
Inflation, GDP deflator in Iceland, 1961–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual %.
Analysis
The most recent figure for inflation, gdp deflator in Iceland is 6.9%, measured in 2025.
The figure is up 13.5% on the previous year and up 1.8% over ten years.
Over the whole period, inflation, gdp deflator in Iceland peaked at 77.3% in 1983 and was at its lowest, 0.5%, in 2003.
Iceland ranks 43rd of 214 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Inflation, GDP deflator (annual %) in Iceland, year by year
| Year | annual % | Change |
|---|---|---|
| 1961 | 13.3% | — |
| 1962 | 11.1% | -16.0% |
| 1963 | 8.2% | -26.2% |
| 1964 | 16.2% | +97.1% |
| 1965 | 12.4% | -23.6% |
| 1966 | 10.4% | -15.9% |
| 1967 | 2.8% | -73.6% |
| 1968 | 13.7% | +398.6% |
| 1969 | 20.9% | +51.8% |
| 1970 | 16.4% | -21.2% |
| 1971 | 12.6% | -23.6% |
| 1972 | 18.3% | +46.1% |
| 1973 | 31.5% | +71.6% |
| 1974 | 37.7% | +19.8% |
| 1975 | 41.9% | +11.1% |
| 1976 | 32.7% | -21.8% |
| 1977 | 32.7% | -0.1% |
| 1978 | 46.2% | +41.4% |
| 1979 | 40.9% | -11.6% |
| 1980 | 52.5% | +28.3% |
| 1981 | 49.2% | -6.3% |
| 1982 | 53.6% | +9.1% |
| 1983 | 77.3% | +44.1% |
| 1984 | 26.9% | -65.2% |
| 1985 | 32.1% | +19.4% |
| 1986 | 24.6% | -23.4% |
| 1987 | 19.9% | -18.9% |
| 1988 | 23.1% | +16.0% |
| 1989 | 22.9% | -1.2% |
| 1990 | 15.2% | -33.7% |
| 1991 | 8.4% | -44.9% |
| 1992 | 3.4% | -58.8% |
| 1993 | 1.8% | -46.9% |
| 1994 | 2.6% | +42.1% |
| 1995 | 3.0% | +15.1% |
| 1996 | 2.6% | -14.6% |
| 1997 | 2.8% | +8.8% |
| 1998 | 4.7% | +68.0% |
| 1999 | 3.5% | -26.2% |
| 2000 | 4.0% | +15.0% |
| 2001 | 8.7% | +118.5% |
| 2002 | 5.9% | -32.4% |
| 2003 | 0.5% | -91.7% |
| 2004 | 2.7% | +444.0% |
| 2005 | 2.9% | +10.5% |
| 2006 | 8.7% | +195.0% |
| 2007 | 4.3% | -50.4% |
| 2008 | 12.2% | +183.1% |
| 2009 | 11.0% | -9.5% |
| 2010 | 6.6% | -40.6% |
| 2011 | 3.5% | -47.3% |
| 2012 | 3.5% | +1.6% |
| 2013 | 2.5% | -28.9% |
| 2014 | 4.2% | +69.0% |
| 2015 | 6.8% | +60.3% |
| 2016 | 2.7% | -60.0% |
| 2017 | 1.6% | -41.7% |
| 2018 | 3.1% | +97.3% |
| 2019 | 4.8% | +55.8% |
| 2020 | 4.3% | -10.2% |
| 2021 | 6.1% | +41.6% |
| 2022 | 8.8% | +43.7% |
| 2023 | 5.5% | -37.9% |
| 2024 | 6.1% | +10.3% |
| 2025 | 6.9% | +13.5% |
Iceland compared with similar countries
- Iceland's 6.9% is above the median for high income countries, which is 2.6%, 2.6× the median. (82 countries reporting)
- Iceland's 6.9% is above the median for Europe & Central Asia, which is 3.5%, 2.0× the median. (56 countries reporting)
Biggest year-on-year movements
Years where Inflation, GDP deflator (annual %) in Iceland 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 |
|---|---|---|---|
| 2004 | +444.0% | 0.5% | 2.7% |
| 1968 | +398.6% | 2.8% | 13.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 12.1% | 2.8% | 20.9% | 9 |
| 1970s | 31.1% | 12.6% | 46.2% | 10 |
| 1980s | 38.2% | 19.9% | 77.3% | 10 |
| 1990s | 4.8% | 1.8% | 15.2% | 10 |
| 2000s | 6.1% | 0.5% | 12.2% | 10 |
| 2010s | 3.9% | 1.6% | 6.8% | 10 |
| 2020s | 6.3% | 4.3% | 8.8% | 6 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 5.55 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0153 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 1,500 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.5124 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0111 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 1,095 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0089 units per US$ of GDP (2025)
Frequently asked questions
- What is inflation, gdp deflator in Iceland?
- Inflation, gdp deflator in Iceland was 6.9% in 2025, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest inflation, gdp deflator recorded in Iceland?
- The highest recorded value was 77.3% in 1983.
- What is the lowest inflation, gdp deflator recorded in Iceland?
- The lowest recorded value was 0.5% in 2003.
- How does Iceland rank for inflation, gdp deflator?
- Iceland ranks 43rd out of 214 countries with data for 2025.
- Is inflation, gdp deflator rising or falling in Iceland?
- Over the last ten years it is up 1.8%. The long-run trend across the full record is volatile.
- Where does this Iceland 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.
Download this data
CSV · JSON — 65 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.