Data / Rankings / Inflation, GDP deflator / Countries

Countries by inflation, GDP deflator

Zimbabwe had the highest inflation, GDP deflator of 202 countries in 2023, at 768.5%. Timor-Leste had the lowest, at -20.8%. The median was 5% and the figure for the World was 5%. Source: the World Bank.

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Highest768.5Zimbabwe
Lowest-20.8Timor-Leste
Median5202 countries
World5History

Map of countries, 2023

United Arab Emirates: -2 %Afghanistan: 2.9 %Antigua and Barbuda: 6.5 %Albania: 5.7 %Armenia: 3.1 %Angola: 19.3 %Argentina: 136.7 %Austria: 7.2 %Australia: 6.5 %Azerbaijan: -9.3 %Bosnia and Herzegovina: 7.3 %Bangladesh: 6.9 %Belgium: 5.5 %Burkina Faso: 1.9 %Bulgaria: 8 %Burundi: 19.1 %Benin: 3.4 %Brunei: -12.8 %Bolivia: 0.2 %Brazil: 5.2 %Bahamas: 6.6 %Bhutan: 4.4 %Botswana: 1.8 %Belarus: 8 %Belize: 6.7 %Canada: 1.5 %Democratic Republic of the Congo: 11.3 %Central African Republic: 3.6 %Republic of the Congo: -7.6 %Switzerland: 0.9 %Côte d’Ivoire: 3.9 %Chile: 6.6 %Cameroon: 3.6 %China: -0.5 %Colombia: 7 %Costa Rica: -1.1 %Cuba: 33.6 %Cape Verde: 3.3 %Cyprus: 5.6 %Czechia: 8.6 %Germany: 6.7 %Djibouti: 2.4 %Denmark: -2.1 %Dominican Republic: 5.8 %Algeria: 1 %Ecuador: 2.1 %Estonia: 8.6 %Egypt: 24.8 %Spain: 6.2 %Ethiopia: 32.9 %Finland: 3.9 %Fiji: 2.8 %Faroe Islands: 2.9 %France: 5 %Gabon: -10 %United Kingdom: 6.3 %Georgia: 2.9 %Ghana: 40.1 %Greenland: 1.9 %Gambia: 13.7 %Guinea: 6.1 %Equatorial Guinea: -3.7 %Greece: 6.3 %Guatemala: 6.5 %Guinea-Bissau: 4 %Guyana: -14.1 %Hong Kong: 2.9 %Honduras: 6 %Croatia: 12.9 %Haiti: 30.6 %Hungary: 15 %Indonesia: 1.5 %Ireland: 3.4 %Israel: 4.6 %Isle of Man: 3.2 %India: 3.5 %Iraq: -15.5 %Iran: 37.3 %Iceland: 5.5 %Italy: 6.3 %Jamaica: 11.3 %Jordan: 1.7 %Japan: 4.6 %Kenya: 5.4 %Kyrgyzstan: 19.9 %Cambodia: 1 %Kiribati: 8.9 %South Korea: 2 %Kuwait: -8 %Cayman Islands: 3.8 %Kazakhstan: 9.5 %Laos: 24.4 %Lebanon: 202.9 %Sri Lanka: 16.8 %Liberia: 4.8 %Lesotho: 0.3 %Lithuania: 10 %Luxembourg: 6.9 %Latvia: 10.7 %Libya: -7.6 %Morocco: 7.1 %Moldova: 9.3 %Montenegro: 11.7 %Madagascar: 8.4 %North Macedonia: 7.9 %Mali: 2 %Myanmar: 10.8 %Mongolia: 21.8 %Mauritania: 3.8 %Mauritius: 6.4 %Malawi: 29 %Mexico: 4.7 %Malaysia: -1.8 %Mozambique: 5.1 %Namibia: 7.7 %New Caledonia: -4 %Niger: 3.4 %Nigeria: 10.8 %Nicaragua: 10.8 %Netherlands: 6.3 %Norway: -10.9 %Nepal: 5.7 %New Zealand: 4.1 %Oman: -4.7 %Panama: 2.3 %Peru: 6.7 %French Polynesia: 3.3 %Papua New Guinea: -4.3 %Philippines: 4.6 %Pakistan: 26 %Poland: 9.9 %Puerto Rico: 3.3 %Palestine: -1.8 %Portugal: 7.5 %Palau: 10.2 %Paraguay: 2.2 %Qatar: -10.7 %Romania: 12.4 %Serbia: 13.9 %Russia: 6.7 %Rwanda: 11.7 %Saudi Arabia: -2.2 %Solomon Islands: 2.5 %Sudan: 29.7 %Sweden: 5.8 %Singapore: -4.6 %Slovenia: 10 %Slovakia: 10 %Sierra Leone: 29.3 %Senegal: 3.1 %Somalia: 4.5 %Suriname: 33.1 %El Salvador: 1.9 %Eswatini: 6.1 %Chad: -3.7 %Togo: 3 %Thailand: 1.3 %Tajikistan: 3.7 %Timor-Leste: -20.8 %Turkmenistan: -2.4 %Tunisia: 7.2 %Türkiye: 68.3 %Trinidad and Tobago: -13 %Tanzania: 2.7 %Ukraine: 19.9 %Uganda: 6.7 %United States: 3.7 %Uruguay: 4.1 %Uzbekistan: 13.9 %Venezuela: 367.8 %Vietnam: 2.2 %Vanuatu: 0.6 %Samoa: 6.8 %South Africa: 4.7 %Zambia: 7.1 %Zimbabwe: 768.5 %
  • Under -9
  • -9 to -4
  • -4 to 0
  • 0 to 4
  • 4 to 8
  • 8 and over
  • No data
%, 2023. Red areas are below zero and blue areas above it. Hatched areas have no value for this period. Source: World Bank, Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG). Boundaries: Natural Earth (public domain).

Top 40 countries, 2023

Zimbabwe: 768.5 %Zimbabwe768.5Venezuela: 367.8 %Venezuela367.8Lebanon: 202.9 %Lebanon202.9Argentina: 136.7 %Argentina136.7Türkiye: 68.3 %Türkiye68.3Ghana: 40.1 %Ghana40.1Iran: 37.3 %Iran37.3Cuba: 33.6 %Cuba33.6Suriname: 33.1 %Suriname33.1Ethiopia: 32.9 %Ethiopia32.9Haiti: 30.6 %Haiti30.6Sudan: 29.7 %Sudan29.7Sierra Leone: 29.3 %Sierra Leone29.3Malawi: 29 %Malawi29Pakistan: 26 %Pakistan26Egypt: 24.8 %Egypt24.8Laos: 24.4 %Laos24.4São Tomé and Príncipe: 23.7 %São Tomé and Príncipe23.7Mongolia: 21.8 %Mongolia21.8Ukraine: 19.9 %Ukraine19.9Kyrgyzstan: 19.9 %Kyrgyzstan19.9Angola: 19.3 %Angola19.3Burundi: 19.1 %Burundi19.1Sri Lanka: 16.8 %Sri Lanka16.8Hungary: 15 %Hungary15Serbia: 13.9 %Serbia13.9Uzbekistan: 13.9 %Uzbekistan13.9Gambia: 13.7 %Gambia13.7Croatia: 12.9 %Croatia12.9Romania: 12.4 %Romania12.4Rwanda: 11.7 %Rwanda11.7Montenegro: 11.7 %Montenegro11.7Jamaica: 11.3 %Jamaica11.3Democratic Republic of the Congo: 11.3 %Democratic Republic of the Congo11.3Nigeria: 10.8 %Nigeria10.8Myanmar: 10.8 %Myanmar10.8Nicaragua: 10.8 %Nicaragua10.8Latvia: 10.7 %Latvia10.7Palau: 10.2 %Palau10.2Slovakia: 10 %Slovakia10Zimbabwe: 768.5 %Zimbabwe768.5Venezuela: 367.8 %Venezuela367.8Lebanon: 202.9 %Lebanon202.9Argentina: 136.7 %Argentina136.7Türkiye: 68.3 %Türkiye68.3Ghana: 40.1 %Ghana40.1Iran: 37.3 %Iran37.3Cuba: 33.6 %Cuba33.6Suriname: 33.1 %Suriname33.1Ethiopia: 32.9 %Ethiopia32.9Haiti: 30.6 %Haiti30.6Sudan: 29.7 %Sudan29.7Sierra Leone: 29.3 %Sierra Leone29.3Malawi: 29 %Malawi29Pakistan: 26 %Pakistan26Egypt: 24.8 %Egypt24.8Laos: 24.4 %Laos24.4São Tomé and Príncipe: 23.7 %São Tomé and Príncipe23.7Mongolia: 21.8 %Mongolia21.8Ukraine: 19.9 %Ukraine19.9Kyrgyzstan: 19.9 %Kyrgyzstan19.9Angola: 19.3 %Angola19.3Burundi: 19.1 %Burundi19.1Sri Lanka: 16.8 %Sri Lanka16.8Hungary: 15 %Hungary15Serbia: 13.9 %Serbia13.9Uzbekistan: 13.9 %Uzbekistan13.9Gambia: 13.7 %Gambia13.7Croatia: 12.9 %Croatia12.9Romania: 12.4 %Romania12.4Rwanda: 11.7 %Rwanda11.7Montenegro: 11.7 %Montenegro11.7Jamaica: 11.3 %Jamaica11.3Democratic Republic of the Congo: 11.3 %Democratic Republic of the Congo11.3Nigeria: 10.8 %Nigeria10.8Myanmar: 10.8 %Myanmar10.8Nicaragua: 10.8 %Nicaragua10.8Latvia: 10.7 %Latvia10.7Palau: 10.2 %Palau10.2Slovakia: 10 %Slovakia10
%. Source: World Bank, Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG). Retrieved 2026-10-18.

Full ranking

RankCountries2023 (%)Change on 2022
1Zimbabwe768.5+494 pts
2Venezuela367.8+157 pts
3Lebanon202.9+90.8 pts
4Argentina136.7+67.7 pts
5Türkiye68.3-27.2 pts
6Ghana40.1+11.9 pts
7Iran37.3-13.8 pts
8Cuba33.6+19.5 pts
9Suriname33.1-16.3 pts
10Ethiopia32.9-1.8 pts
11Haiti30.6+0.5 pts
12Sudan29.7-87.2 pts
13Sierra Leone29.3+2.3 pts
14Malawi29+11.9 pts
15Pakistan26+12.1 pts
16Egypt24.8+14.4 pts
17Laos24.4+8.6 pts
18São Tomé and Príncipe23.7+8 pts
19Mongolia21.8+4.1 pts
20Ukraine19.9-15 pts
21Kyrgyzstan19.9+0.2 pts
22Angola19.3+1.3 pts
23Burundi19.1+4.1 pts
24Sri Lanka16.8-30.6 pts
25Hungary15+1 pts
26Serbia13.9+3.5 pts
27Uzbekistan13.9-0.1 pts
28Gambia13.7+4.9 pts
29Croatia12.9+4.9 pts
30Romania12.4+0.3 pts
31Rwanda11.7-4.2 pts
32Montenegro11.7-0.4 pts
33Jamaica11.3-1.3 pts
34Democratic Republic of the Congo11.3+1.3 pts
35Nigeria10.8+2.8 pts
36Myanmar10.8+4.6 pts
37Nicaragua10.8+2.4 pts
38Latvia10.7+1 pts
39Palau10.2+4.9 pts
40Slovakia10+2.7 pts
41Slovenia10+3.5 pts
42Lithuania10-5.5 pts
43Poland9.9-0.8 pts
44Kazakhstan9.5-10.2 pts
45Moldova9.3-9.6 pts
46Kiribati8.9+11 pts
47Estonia8.6-8.2 pts
48Czechia8.6-0.1 pts
49Madagascar8.4-1.3 pts
50Comoros8.1+0.2 pts
51Belarus8-6.8 pts
52Bulgaria8-7.9 pts
53North Macedonia7.9-1 pts
54Marshall Islands7.9+8.1 pts
55Namibia7.7+1.3 pts
56Portugal7.5+2.2 pts
57Tonga7.4-1.8 pts
58San Marino7.4+4.6 pts
59Bosnia and Herzegovina7.3-4.5 pts
60Tunisia7.2+4 pts
61Austria7.2+2.2 pts
62Zambia7.1+1 pts
63Morocco7.1+4.4 pts
64Colombia7-7.9 pts
65Luxembourg6.9+0.7 pts
66Bangladesh6.9+1.8 pts
67Samoa6.8+4.3 pts
68Uganda6.7+1.8 pts
69Belize6.7-0.6 pts
70Germany6.7+0.3 pts
71Russia6.7-11.6 pts
72Peru6.7+2.1 pts
73Bahamas6.6+2.5 pts
74Chile6.6-1 pts
75Guatemala6.5+0.1 pts
76Antigua and Barbuda6.5-0.3 pts
77Australia6.5-0.7 pts
78Mauritius6.4-2.4 pts
79United Kingdom6.3+0.7 pts
80Netherlands6.3+0.1 pts
81Andorra6.3+2.1 pts
82Greece6.3-0 pts
83Italy6.3+2.8 pts
84Spain6.2+1.6 pts
85Bermuda6.1+5.9 pts
86Guinea6.1+3.3 pts
87Eswatini6.1-2.8 pts
88Honduras6-3.3 pts
89Sweden5.8-0.2 pts
90Dominican Republic5.8-3.8 pts
91Nepal5.7-2.5 pts
92Albania5.7-4.1 pts
93Cyprus5.6-0.6 pts
94Belgium5.5-1.2 pts
95Micronesia5.5-4 pts
96Iceland5.5-3.3 pts
97Kenya5.4-1.5 pts
98Malta5.2+0.1 pts
99Brazil5.2-3.4 pts
100Mozambique5.1-4.1 pts
101Monaco5+2 pts
102France5+2 pts
103Liberia4.8-3.9 pts
104South Africa4.7-0.5 pts
105Mexico4.7-2 pts
106Philippines4.6-0.9 pts
107Japan4.6+3.9 pts
108Israel4.6-0.3 pts
109Somalia4.5-3.4 pts
110Grenada4.5+2.8 pts
111Saint Kitts and Nevis4.4+0.9 pts
112Bhutan4.4-1.4 pts
113Macao4.4+3.2 pts
114New Zealand4.1-2.1 pts
115Uruguay4.1-1.9 pts
116Guinea-Bissau4+0.2 pts
117Finland3.9-2.3 pts
118Côte d’Ivoire3.9+0.9 pts
119Cayman Islands3.8-0.1 pts
120Mauritania3.8+4.4 pts
121Tajikistan3.7-4.5 pts
122United States3.7-3.4 pts
123Central African Republic3.6-2.4 pts
124Cameroon3.6-3.3 pts
125India3.5+0.7 pts
126Niger3.4-0.8 pts
127Ireland3.4-4.6 pts
128Benin3.4-0.8 pts
129Puerto Rico3.3-0.6 pts
130French Polynesia3.3+0.8 pts
131Cape Verde3.3-3.1 pts
132Isle of Man3.2-5.9 pts
133Armenia3.1-4.9 pts
134Senegal3.1-6.3 pts
135Barbados3+3.2 pts
136Togo3-4.1 pts
137Georgia2.9-5.2 pts
138Faroe Islands2.9-3 pts
139Afghanistan2.9-6.5 pts
140Saint Vincent and the Grenadines2.9-5 pts
141Hong Kong2.9+1.2 pts
142Aruba2.8-1.3 pts
143Fiji2.8-5.3 pts
144Tanzania2.7-0 pts
145Solomon Islands2.5+4.4 pts
146Djibouti2.4+2.6 pts
147Curaçao2.4-2.6 pts
148Panama2.3+0.1 pts
149Paraguay2.2-5.8 pts
150Vietnam2.2-2.3 pts
151Ecuador2.1-0.2 pts
152Maldives2.1-1.3 pts
153Dominica2.1+1.8 pts
154South Korea2+0.2 pts
155Mali2-4.3 pts
156Sint Maarten2-1.3 pts
157Burkina Faso1.9-2.7 pts
158El Salvador1.9-4.7 pts
159Greenland1.9-3.7 pts
160Botswana1.8-12.9 pts
161Jordan1.7-1 pts
162Canada1.5-6.3 pts
163Indonesia1.5-8 pts
164Seychelles1.4-1.8 pts
165Saint Lucia1.3-2.6 pts
166Thailand1.3-3.4 pts
167Cambodia1-2.5 pts
168Algeria1-21.9 pts
169Switzerland0.9-2.1 pts
170Vanuatu0.6-4.5 pts
171Turks and Caicos Islands0.5-1.2 pts
172Lesotho0.3-5.2 pts
173Bolivia0.2-2.4 pts
174China-0.5-2.4 pts
175Costa Rica-1.1-8.1 pts
176Palestine-1.8-3.5 pts
177Malaysia-1.8-8.1 pts
178United Arab Emirates-2-14.6 pts
179Denmark-2.1-12.5 pts
180Saudi Arabia-2.2-14.8 pts
181Turkmenistan-2.4-13.2 pts
182Nauru-2.9-27.4 pts
183Chad-3.7-17.9 pts
184Equatorial Guinea-3.7-25.9 pts
185New Caledonia-4-7.8 pts
186Bahrain-4.3-11.4 pts
187Papua New Guinea-4.3-19.4 pts
188Singapore-4.6-19.6 pts
189Oman-4.7-21.2 pts
190Tuvalu-5.9-12.7 pts
191Republic of the Congo-7.6-25.8 pts
192Libya-7.6-50.4 pts
193Kuwait-8-25.7 pts
194Azerbaijan-9.3-46.6 pts
195Gabon-10-24.7 pts
196Qatar-10.7-36.6 pts
197Norway-10.9-38.2 pts
198Brunei-12.8-37.1 pts
199Trinidad and Tobago-13-28.9 pts
200Guyana-14.1-26.1 pts
201Iraq-15.5-42.5 pts
202Timor-Leste-20.8-32.2 pts

Other periods

About this ranking

Annual percentage change in the GDP implicit deflator, the ratio of GDP at current prices to GDP at constant prices in national currency. It measures price change across the whole economy. World Bank national accounts data, compiled from national statistical offices and central banks and from OECD national accounts files.

Covers investment goods and exports too, so it differs from consumer price inflation (inflation_annual_average). It turns negative when export prices fall, as in oil exporters in 2015 and 2020.

Every value in the ranking comes from the same publisher and the same period, so the countries are compared on one definition. 9 countries with data in other periods have no value for 2023 and are left out rather than filled from another source. Equal values share a rank.

How to cite

World Bank, World Development Indicators. Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG). https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG. Retrieved 2026-10-18. Licensed under CC BY 4.0.

Citation styles

The publisher is the author. Invokely is named only as the place the figures were read, where a style asks for it.

APA 7

World Bank. (2026). Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG) (Countries by inflation, GDP deflator, 2023) [Data set]. Retrieved October 18, 2026, from https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG

MLA 9

Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG), Countries by inflation, GDP deflator, 2023. World Bank, 8 Oct. 2026, https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG. Invokely, https://invokely.ai/rankings/gdp-deflator-inflation/countries?period=2023. Accessed 18 Oct. 2026.

Chicago (author-date)

World Bank. 2026. Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG). Countries by inflation, GDP deflator, 2023. Dataset. Accessed October 18, 2026. https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG. Also distributed by Invokely, https://invokely.ai/rankings/gdp-deflator-inflation/countries?period=2023.

Harvard

World Bank (2026) Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG), Countries by inflation, GDP deflator, 2023 [Dataset]. Available at: https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG, via Invokely: https://invokely.ai/rankings/gdp-deflator-inflation/countries?period=2023 (Accessed: 18 October 2026).

BibTeX
@misc{world_countries_by_inflation_gdp_2023,
  author = {{World Bank}},
  title = {{Inflation, GDP deflator (annual \%) (NY.GDP.DEFL.KD.ZG): Countries by inflation, GDP deflator, 2023}},
  year = {2026},
  howpublished = {Data set},
  url = {https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG},
  urldate = {2026-10-18},
  note = {Accessed via Invokely, https://invokely.ai/rankings/gdp-deflator-inflation/countries?period=2023. Publisher attribution: World Bank, World Development Indicators. Inflation, GDP deflator (annual \%) (NY.GDP.DEFL.KD.ZG). https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG. Retrieved 2026-10-18. Licensed under CC BY 4.0.},
}
RIS
TY  - DATA
AU  - World Bank
TI  - Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG): Countries by inflation, GDP deflator, 2023
PY  - 2026
DA  - 2026/10/08
PB  - World Bank
DB  - Invokely
UR  - https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG
L2  - https://invokely.ai/rankings/gdp-deflator-inflation/countries?period=2023
Y2  - 2026/10/18
N1  - Accessed via Invokely, https://invokely.ai/rankings/gdp-deflator-inflation/countries?period=2023.
N1  - Publisher attribution: World Bank, World Development Indicators. Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG). https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG. Retrieved 2026-10-18. Licensed under CC BY 4.0.
ER  -
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Questions

Which country has the highest inflation, GDP deflator?

Zimbabwe, with 768.5% in 2023, according to the World Bank.

Which country has the lowest inflation, GDP deflator?

Timor-Leste, with -20.8% in 2023.

Where does this ranking come from?

Every value comes from one source and one period, so the places are comparable: World Bank, Inflation, GDP deflator (annual %) (NY.GDP.DEFL.KD.ZG). Retrieved 2026-10-18. 9 countries have no value for 2023 and are not ranked.

Inflation, GDP deflator: other rankings

Countries: more rankings