GDP deflators at market prices, and money GDP March 2026 (Quarterly National Accounts)

A series for the GDP deflator in index form is produced by the Treasury from data provided by the Office for National Statistics (ONS) and the Office for Budget Responsibility (OBR). GDP deflator outturn are based on the ONS Quarterly National Accounts release (at the end of each quarter). However, a more recent version of ONS GDP outturn may be used depending on when the OBR updates its GDP deflator forecasts (usually at Budget and Autumn Statement). Outturn data covering the years 1955-56 to 2024-25 (1955 to 2025) are based on the Quarterly National Accounts, 31 March 2026. Forecasts covering periods 2025-26 to 2030-31 (2026 to 2030) are from the OBR as at the spring Statement 3 March 2026. GDP deflators for financial years 1955-56 to 2024-25 have been taken directly from ONS series L8GG. GDP deflators for calendar years 1955 to 2025 have been taken from ONS series MNF2. Non-seasonally adjusted money GDP for calendar and financial years are taken from ONS series BKTL. For financial years only, seasonally adjusted money GDP series YBHA has also been included. The next GDP deflator update will be shortly after the ONS Quarterly National Accounts release of 30 June 2026. ### 31032026 deflator update | | GDP DEFLATORS AT MARKET PRICES, AND MONEY GDP | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | Outturn data are as at the Quarterly National Accounts from ONS - last updated 31 March 2026. | | | | | | | | | | | | | | | | | | | | | | | | | | Forecast data are consistent with OBR EFO data as at the Spring Statement 3 March 2026. | | | | | | | | | | | | | | | | | | | | | | | | | | Financial year | | | | | | Calendar year | | | | | | | | | | | | | | | | | | | | | GDP deflator at market prices | | Money GDP (3), (4) | | | | GDP deflator at market prices | | Money GDP (3) | | | | | | | | | | | | | | | | | Financial year | 2024-25 = 100 | per cent change on previous year | Cash £ million Non-Season-ally Adjusted | Cash £ million Seasonally Adjusted | | Calendar year | 2025 = 100 | per cent change on previous year | Cash £ million Non-Seasonally Adjusted | | | | | | | | | | | | | | | | | 1955-56 | 3.1645 | | 19575 | 19590 | | 1955 | 3.0344 | | 19170 | | | | | | | | | | | | | | | | | 1956-57 | 3.3593 | 6.155790804234486 | 21164 | 21140 | | 1956 | 3.2449 | 6.937121012391237 | 20846 | | | | | | | | | | | | | | | | | 1957-58 | 3.5142 | 4.611079689220969 | 22512 | 22527 | | 1957 | 3.3749 | 4.006286788498873 | 22107 | | | | | | | | | | | | | | | | | 1958-59 | 3.5995 | 2.4272949746741705 | 23339 | 23309 | | 1958 | 3.4983 | 3.6564046342113894 | 23223 | | | | | | | | | | | | | | | | | 1959-60 | 3.6187 | 0.5334074176969054 | 24878 | 24933 | | 1959 | 3.5236 | 0.7232084155161107 | 24392 | | | | | | | | | | | | | | | | | 1960-61 | 3.6909 | 1.9951916434078547 | 26644 | 26662 | | 1960 | 3.5605 | 1.047224429560681 | 26206 | | | | | | | | | | | | | | | | | 1961-62 | 3.8264 | 3.671191308352975 | 28147 | 28175 | | 1961 | 3.6954 | 3.788793708748759 | 27924 | | | | | | | | | | | | | | | | | 1962-63 | 3.9457 | 3.1178130880200703 | 29457 | 29475 | | 1962 | 3.8284 | 3.5990691129512373 | 29242 | | | | | | | | | | | | | | | | | 1963-64 | 4.0121 | 1.6828446156575572 | 31929 | 31884 | | 1963 | 3.8842 | 1.4575279490126443 | 31107 | | | | | | | | | | | | | | | | | 1964-65 | 4.201 | 4.708257520998963 | 34864 | 34933 | | 1964 | 4.023 | 3.5734514185675255 | 34056 | | | | | | | | | | | | | | | | | 1965-66 | 4.4272 | 5.384432278029051 | 37473 | 37427 | | 1965 | 4.2621 | 5.943325876211796 | 36839 | | | | | | | | | | | | | | | | | 1966-67 | 4.6525 | 5.088995301770867 | 39962 | 39959 | | 1966 | 4.4896 | 5.337744304450858 | 39407 | | | | | | | | | | | | | | | | | 1967-68 | 4.7796 | 2.731864588930692 | 42520 | 42628 | | 1967 | 4.622 | 2.9490377761938618 | 41687 | | | | | | | | | | | | | | | | | 1968-69 | 5.0299 | 5.236839902920732 | 46779 | 46800 | | 1968 | 4.816 | 4.197317178710514 | 45811 | | | | | | | | | | | | | | | | | 1969-70 | 5.3774 | 6.908686057376889 | 50856 | 50908 | | 1969 | 5.1351 | 6.625830564784066 | 49776 | | | | | | | | | | | | | | | | | 1970-71 | 5.9079 | 9.865362442816231 | 57739 | 57823 | | 1970 | 5.6294 | 9.625907966738719 | 56056 | | | | | | | | | | | | | | | | | 1971-72 | 6.3551 | 7.56952555053404 | 64591 | 64499 | | 1971 | 6.0957 | 8.283298397697791 | 62886 | | | | | | | | | | | | | | | | | 1972-73 | 6.8955 | 8.503406712718919 | 73942 | 74042 | | 1972 | 6.5561 | 7.552865134439029 | 70595 | | | | | | | | | | | | | | | | | 1973-74 | 7.5015 | 8.788340221883836 | 82871 | 82895 | | 1973 | 7.1384 | 8.881804731471455 | 81809 | | | | | | | | | | | | | | | | | 1974-75 | 9.0263 | 20.3266013463974 | 98192 | 98365 | | 1974 | 8.2922 | 16.163285890395603 | 92686 | | | | | | | | | | | | | | | | | 1975-76 | 11.2333 | 24.450771634002844 | 120844 | 120728 | | 1975 | 10.4595 | 26.136610308482684 | 115095 | | | | | | | | | | | | | | | | | 1976-77 | 12.8005 | 13.951376710316646 | 142072 | 142583 | | 1976 | 12.0781 | 15.474927099765754 | 136995 | | | | | | | | | | | | | | | | | 1977-78 | 14.5596 | 13.742431936252492 | 166087 | 165875 | | 1977 | 13.752 | 13.858967884021506 | 159775 | | | | | | | | | | | | | | | | | 1978-79 | 16.1988 | 11.258551059095023 | 192341 | 192460 | | 1978 | 15.3753 | 11.804101221640478 | 186141 | | | | | | | | | | | | | | | | | 1979-80 | 18.9324 | 16.875324098081357 | 232557 | 232594 | | 1979 | 17.5958 | 14.441994627747109 | 220966 | | | | | | | | | | | | | | | | | 1980-81 | 22.5457 | 19.085271809173683 | 267548 | 267830 | | 1980 | 21.1501 | 20.19970674820126 | 259956 | | | | | | | | | | | | | | | | | 1981-82 | 24.9204 | 10.532828876459815 | 298739 | 298186 | | 1981 | 23.7558 | 12.320036311885062 | 290550 | | | | | | | | | | | | | | | | | 1982-83 | 26.7569 | 7.369464374568629 | 327910 | 328278 | | 1982 | 25.6563 | 8.000151541939235 | 320013 | | | | | | | | | | | | | | | | | 1983-84 | 28.0299 | 4.7576512974223455 | 358644 | 357864 | | 1983 | 27.0789 | 5.544836940634461 | 351900 | | | | | | | | | | | | | | | | | 1984-85 | 29.6689 | 5.847327318327926 | 386718 | 386407 | | 1984 | 28.4962 | 5.2339644520272275 | 378608 | | | | | | | | | | | | | | | | | 1985-86 | 31.2847 | 5.446106866112327 | 424559 | 424801 | | 1985 | 30.0366 | 5.405633031772651 | 415455 | | | | | | | | | | | | | | | | | 1986-87 | 32.5556 | 4.06236914530105 | 456205 | 457005 | | 1986 | 31.3802 | 4.473209351258127 | 447561 | | | | | | | | | | | | | | | | | 1987-88 | 34.4507 | 5.821118332944254 | 512832 | 513277 | | 1987 | 33.1066 | 5.501558307467772 | 498040 | | | | | | | | | | | | | | | | | 1988-89 | 36.7965 | 6.809150467189358 | 572031 | 572718 | | 1988 | 35.1435 | 6.152549642669445 | 557277 | | | | | | | | | | | | | | | | | 1989-90 | 39.7716 | 8.085279849985726 | 631607 | 631097 | | 1989 | 37.9703 | 8.043592698507544 | 616595 | | | | | | | | | | | | | | | | | 1990-91 | 43.1083 | 8.389654929648295 | 681464 | 683131 | | 1990 | 41.215 | 8.545363086412278 | 672977 | | | | | | | | | | | | | | | | | 1991-92 | 45.701 | 6.014387020596963 | 716584 | 716351 | | 1991 | 43.9785 | 6.705083100812795 | 708072 | | | | | | | | | | | | | | | | | 1992-93 | 46.9538 | 2.7412966893503437 | 741206 | 741414 | | 1992 | 45.4142 | 3.26454972316019 | 733221 | | | | | | | | | | | | | | | | | 1993-94 | 48.2899 | 2.845563085415881 | 783220 | 782644 | | 1993 | 46.7746 | 2.9955388402746244 | 772390 | | | | | | | | | | | | | | | | | 1994-95 | 49.091 | 1.6589390327998155 | 823670 | 822442 | | 1994 | 47.6384 | 1.8467287801499053 | 813527 | | | | | | | | | | | | | | | | | 1995-96 | 50.6447 | 3.164938583447066 | 866285 | 867839 | | 1995 | 48.8847 | 2.6161667898166296 | 854921 | | | | | | | | | | | | | | | | | 1996-97 | 52.3579 | 3.3827824036868623 | 926554 | 924649 | | 1996 | 50.9091 | 4.14117300505066 | 913609 | | | | | | | | | | | | | | | | | 1997-98 | 52.4935 | 0.25898670496715226 | 970388 | 972370 | | 1997 | 50.929 | 0.03908927873405699 | 958539 | | | | | | | | | | | | | | |