Ukraine's inflation, GDP deflator (annual % growth) was 14.47% in 2025, the latest year in the World Bank's World Development Indicators. That is down 24.41 percentage points from 38.88% in 2015.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 14.47% | 2025 |
| Five years earlier | 10.29% | 2020 |
| Ten years earlier | 38.88% | 2015 |
| Highest | 3,334% | 1993 |
| Lowest | 1.72% | 1988 |
| Average since 2016 | 17.92% | 2016–2025 |
| First recorded | 1.72% | 1988 |
What the numbers say
In 2025, Ukraine's inflation, GDP deflator (annual % growth) rose 2.5 percentage points on 2024 (from 11.97% to 14.47%).
Across the 30 yearly changes before that (1995 to 2024), the average change was −31.37 percentage points and a typical year strayed about 115.48 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above 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 1,672.13 percentage points in 1992 and the biggest yearly fall was 2,380.59 percentage points in 1994. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2016 to 2025 there is no clear straight-line trend: a straight line explains less than 1% 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 2025, Ukraine had the 15th highest value of the 186 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.
| Value | Year | |
|---|---|---|
| Ukraine | 14.47% | 2025 |
| World | 3.33% | 2025 |
| Europe & Central Asia | 3.6% | 2025 |
| Upper middle income | 3.31% | 2025 |
Closest to Ukraine in the 2025 ranking
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 38 values
| Year | Inflation, GDP deflator (annual % growth) |
|---|---|
| 2025 | 14.47 |
| 2024 | 11.97 |
| 2023 | 19.87 |
| 2022 | 34.92 |
| 2021 | 24.8 |
| 2020 | 10.29 |
| 2019 | 8.25 |
| 2018 | 15.4 |
| 2017 | 22.1 |
| 2016 | 17.1 |
| 2015 |
Inflation, GDP deflator (annual % growth) in nearby economies
- Albania — 1.45% (2025)
- Andorra — 2.63% (2025)
- Armenia — 3.57% (2025)
- Austria — 3.15% (2025)
- Azerbaijan — 0.57% (2025)
- Belarus — 10.92% (2025)
- Belgium — 2.56% (2025)
- Bosnia and Herzegovina — 3.01% (2025)
- Bulgaria — 7.41% (2025)
- Channel Islands — 5.75% (2023)
More financial sector data for Ukraine
- GDP deflator (base year varies by country) — 435.22 (2025)
- DEC alternative conversion factor (LCU per US$) — US$41.69 (2025)
- Inflation, GDP deflator, linked series (annual % growth) — 14.47% (2025)
- GDP deflator, linked series (base year varies by country) — 435.22 (2025)
- Domestic credit to private sector by banks (% of GDP) — 12.03% (2025)
- Net domestic credit (current LCU) — 2.35 trillion (2025)
- Net foreign assets (current LCU) — 3.06 trillion (2025)
- Monetary sector credit to private sector (% of GDP) — 12.03% (2025)
- Broad money (current LCU) — 4.02 trillion (2025)
Reading data like this
Questions people ask
- What is Ukraine's inflation, GDP deflator (annual % growth)?
- 14.47% in 2025, according to the World Bank (World Development Indicators).
- How has it changed since 1988?
- It is up 12.76 percentage points from 1.72% in 1988. The highest value was 3,334% in 1993 and the lowest 1.72% in 1988.
- How does Ukraine rank?
- 15th highest of 186 economies with data for 2025.
- Is the latest change in inflation, GDP deflator (annual % growth) unusual for Ukraine?
- In 2025, Ukraine's inflation, GDP deflator (annual % growth) rose 2.5 percentage points on 2024 (from 11.97% to 14.47%). Across the 30 yearly changes before that (1995 to 2024), the average change was −31.37 percentage points and a typical year strayed about 115.48 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above 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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