Bermuda: Inflation, GDP deflator (annual % growth)

Key figures

What the numbers say

In 2024, Bermuda's inflation, GDP deflator (annual % growth) fell 1.24 percentage points on 2023 (from 6.14% to 4.9%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.03 percentage points and a typical year strayed about 8.33 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 25.19 percentage points in 1996 and the biggest yearly fall was 25.34 percentage points in 1997. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 5% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Bermuda had the 4th highest value of the 14 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Bermuda in the 2024 ranking

• Lebanon — 1st of 14: 45.16%
• Cuba — 2nd of 14: 32.22%
• Aruba — 4th of 14: 4.14%
• Curaçao — 5th of 14: 3.33%
• Cayman Islands — 6th of 14: 2.4%

What this measures

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.

Regional and income-group figures are computed by the World Bank as a median.

All 64 values

Inflation, GDP deflator (annual % growth) in nearby economies

• Canada — 2.55% (2025)
• United States — 2.8% (2025)

More financial sector data for Bermuda

• DEC alternative conversion factor (LCU per US$) — US$1 (2025)
• Official exchange rate (LCU per US$, period average) — US$1 (2025)
• GDP deflator (base year varies by country) — 129.48 (2024)
• Inflation, GDP deflator, linked series (annual % growth) — 4.9% (2024)
• GDP deflator, linked series (base year varies by country) — 129.48 (2024)
• Listed domestic companies, total — 9 (2025)
• Stocks traded, total value (current US$) — US$9.76 million (2025)
• Stocks traded, total value (% of GDP) — 0.12% (2024)
• Market capitalization of listed domestic companies (current US$) — US$2.26 billion (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Bermuda's inflation, GDP deflator (annual % growth)?

4.9% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1961?

It is up 3.96 percentage points from 0.94% in 1961. The highest value was 29.36% in 1996 and the lowest -4.24% in 2000.

How does Bermuda rank?

4th highest of 14 economies with data for 2024.

Is the latest change in inflation, GDP deflator (annual % growth) unusual for Bermuda?

In 2024, Bermuda's inflation, GDP deflator (annual % growth) fell 1.24 percentage points on 2023 (from 6.14% to 4.9%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.03 percentage points and a typical year strayed about 8.33 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.GDP.DEFL.KD.ZG, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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