Cayman Islands's inflation, GDP deflator, linked series (annual % growth) was 2.4% in 2024, the latest year in the World Bank's World Development Indicators. That is up 1.52 percentage points from 0.89% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 2.4% | 2024 |
| Five years earlier | 3.4% | 2019 |
| Ten years earlier | 0.89% | 2014 |
| Highest | 3.9% | 2022 |
| Lowest | -0.46% | 2011 |
| Average since 2015 | 2.18% | 2015–2024 |
| First recorded | 3.07% | 2007 |
What the numbers say
In 2024, Cayman Islands' inflation, GDP deflator, linked series (annual % growth) fell 1.42 percentage points on 2023 (from 3.82% to 2.4%).
Across the 16 yearly changes before that (2008 to 2023), the average change was +0.05 percentage points and a typical year strayed about 1.42 percentage points from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 2.05 percentage points in 2021 and the biggest yearly fall was 3.26 percentage points in 2020. 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 the straight-line trend is upward, about 0.26 percentage points a year. A straight line explains 34% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Cayman Islands had the 6th highest value of the 13 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 Cayman Islands in the 2024 ranking
- Bermuda — 3rd of 13: 4.9%
- Aruba — 4th of 13: 4.14%
- Curaçao — 5th of 13: 3.33%
- Monaco — 7th of 13: 2.39%
- Faroe Islands — 8th of 13: 2%
- French Polynesia — 9th of 13: 1.85%
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. 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.
All 18 values
| Year | Inflation, GDP deflator, linked series (annual % growth) |
|---|---|
| 2024 | 2.4 |
| 2023 | 3.82 |
| 2022 | 3.9 |
| 2021 | 2.19 |
| 2020 | 0.1394 |
| 2019 | 3.4 |
| 2018 | 2.66 |
| 2017 | 1.99 |
| 2016 | 1 |
| 2015 | 0.3419 |
| 2014 |
Inflation, GDP deflator, linked series (annual % growth) in nearby economies
- Antigua and Barbuda — 2.98% (2025)
- Argentina — 39.09% (2025)
- Aruba — 4.14% (2024)
- Bahamas, The — 0.29% (2024)
- Barbados — 2.74% (2025)
- Belize — 1.06% (2025)
- Bolivia — 19.91% (2025)
- Brazil — 5.73% (2025)
- Chile — 6.8% (2025)
- Colombia
More financial sector data for Cayman Islands
- DEC alternative conversion factor (LCU per US$) — US$0.83 (2025)
- Official exchange rate (LCU per US$, period average) — US$0.83 (2025)
- Market capitalization of listed domestic companies (current US$) — US$644.32 million (2020)
- Listed domestic companies, total — 4 (2020)
- GDP deflator (base year varies by country) — 123.6 (2024)
- GDP deflator, linked series (base year varies by country) — 123.6 (2024)
- Inflation, GDP deflator (annual % growth) — 2.4% (2024)
- Market capitalization of listed domestic companies (% of GDP) — 11.39% (2020)
- Stocks traded, total value (current US$)
Reading data like this
Questions people ask
- What is Cayman Islands's inflation, GDP deflator, linked series (annual % growth)?
- 2.4% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2007?
- It is down 0.67 percentage points from 3.07% in 2007. The highest value was 3.9% in 2022 and the lowest -0.46% in 2011.
- How does Cayman Islands rank?
- 6th highest of 13 economies with data for 2024.
- Is the latest change in inflation, GDP deflator, linked series (annual % growth) unusual for Cayman Islands?
- In 2024, Cayman Islands' inflation, GDP deflator, linked series (annual % growth) fell 1.42 percentage points on 2023 (from 3.82% to 2.4%). Across the 16 yearly changes before that (2008 to 2023), the average change was +0.05 percentage points and a typical year strayed about 1.42 percentage points from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NY.GDP.DEFL.KD.ZG.AD, licensed CC BY 4.0. Original source: Staff estimates, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD); World Economic Outlook database, International Monetary Fund (IMF) 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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