GDP implicit price deflator

GDP implicit price deflator

An economic technique used to account for inflation by comparing the current-dollar gross domestic product GDP to constant-dollar GDP as a ratio. The ratio accounts for price changes of goods and services that make up GDP and changes in the composition of GDP.

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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Figure 4 compares growth rates of M2, nominal GDP, and the GDP implicit price deflator over the most recent inflation cycle.
FOR THE GDP IMPLICIT PRICE DEFLATOR AND CONSUMER PRICE INDEX, THE ANNUAL AVERAGE IS THE PERCENT CHANGE IN THE