Explore Faroe Islands's GDP deflator, annual economy-wide inflation and the relationship between price changes and real economic growth.
Faroe Islands’s GDP deflator reached 135.4 in 2024, while annual GDP deflator inflation was 2.0% in 2024. Economy-wide prices changed by +14.9% over the latest five-year period. Real GDP growth was 0.8% in 2024.
Based on comparable 2024 data, Faroe Islands ranked 164th of 213 economies by GDP deflator inflation.
Faroe Islands GDP Deflator and Inflation by Year
Data source: World Bank, World Development Indicators — GDP deflator (NY.GDP.DEFL.ZS); Inflation, GDP deflator, annual % (NY.GDP.DEFL.KD.ZG); GDP growth, annual % (NY.GDP.MKTP.KD.ZG).
License: CC BY-4.0. Retrieved 2026-07-12.
About the Indicators
GDP deflator. The ratio of GDP in current local-currency prices to GDP in constant local-currency prices, expressed as an index. Unlike the CPI, it covers price changes across everything produced domestically, not just goods and services bought by households.
Inflation, GDP deflator, annual %. The annual growth rate of the GDP deflator, capturing economy-wide inflation across all domestically produced goods and services rather than just consumer purchases.
GDP growth, annual %. The annual percentage change in gross domestic product measured at constant prices, the standard indicator of real economic growth after removing the effect of inflation.