Inflation, GDP deflator: linked series in Iceland
Iceland: Inflation, GDP deflator: linked series was 6.9% in 2025. ◆ Volatile
Inflation, GDP deflator: linked series in Iceland, 1990–2025
Source: Staff estimates, World Bank (WB). Measured in annual %.
Analysis
In 2025, inflation, gdp deflator: linked series in Iceland stood at 6.9%.
Compared with earlier readings it is up 13.5% on the previous year and up 1.8% over ten years.
Over the whole period, inflation, gdp deflator: linked series in Iceland peaked at 15.2% in 1990 and was at its lowest, 0.5%, in 2003.
Iceland ranks 43rd of 212 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: linked series in Iceland, year by year
| Year | annual % | Change |
|---|---|---|
| 1990 | 15.2% | — |
| 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% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 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 financial sector data for Iceland
- Net domestic credit (current LCU), per capita 11.64 million current LCU per person (2025)
- Net domestic credit (current LCU), per unit of GDP 118.35 current LCU per US$ of GDP (2025)
- Net domestic credit (current LCU), annual growth rate 4.25 % change on previous year (2025)
- Gold reserves at 35 SDRs per ounce 2.23 million SDR (2025)
- Gold reserves at market value 203.48 million SDR (2025)
- Reserves excluding gold, foreign exchange 4.94 billion SDR (2025)
- Reserves excluding gold 5.44 billion SDR (2025)
- Total reserves (gold at market value) 5.65 billion SDR (2025)
- Total reserves (gold at national valuation) 5.64 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 14,384 SDR per person (2025)
Frequently asked questions
- What is inflation, gdp deflator: linked series in Iceland?
- Inflation, gdp deflator: linked series in Iceland was 6.9% in 2025, according to Staff estimates, World Bank (WB).
- What is the highest inflation, gdp deflator: linked series recorded in Iceland?
- The highest recorded value was 15.2% in 1990.
- What is the lowest inflation, gdp deflator: linked series recorded in Iceland?
- The lowest recorded value was 0.5% in 2003.
- How does Iceland rank for inflation, gdp deflator: linked series?
- Iceland ranks 43rd out of 212 countries with data for 2025.
- Is inflation, gdp deflator: linked series 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 Staff estimates, World Bank (WB), published as part of Inflation, GDP deflator: linked series (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. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.