GDP Price Deflator

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GDP Price Deflator

A ratio of nominal GDP to real GDP expressed as a percentage. The GDP price deflator is used as a measure of the inflation rate; it does not account for price changes in commodity baskets like the Consumer Price Index. Rather, it shows changes in GDP compared with a base year.
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Regarding price deflators, in many cases GDP deflators (or something close) are being used as deflators for investment in intangible capital.
While this is a reasonable stand-in until something better can be developed, trends in deflators for some categories of intangible capital could be quite different from the GDP deflator.
Underlying economic data series have also been revised-most notably the GDP and GDP deflators for the United States.
For example, deflating health expenditures by the GDP deflator for each country provides a measure of the opportunity cost of resources going into the health sector.
Another measure of policy interest derivable from these data is health expenditures per capita deflated by the GDP deflator.
Table 5 displays for Canada, France, Germany, Japan, the United Kingdom, and the United States the 1980-90 rates of growth in: nominal health spending in national currency units (NCUs); nominal and real (both health and GDP deflator adjusted) per capita health spending in NCUs; nominal GDP in NCUs; nominal and real per capita GDP in NCUs; health care prices, GDP deflator, and excess health care inflation; and population.
The substantial difference between the rates of growth in health deflator-adjusted and GDP deflator-adjusted health spending is the result of excess health care inflation--the rate of growth in health prices relative to the rate of growth in the GDP deflator.
1 percent per year less rapidly than the GDP deflator.
In terms of excess health care inflation, the United Kingdom was third-highest, with health care prices exceeding the GDP deflator by 1.