GDP 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.

GDP deflator

A price index used to adjust gross domestic product for changes in prices of goods and services included in the GDP. The GDP deflator is a more broadly based and, many economists argue, a better measure of inflation than the consumer price index or the producer price index. Also called gross domestic product deflator.
References in periodicals archive ?
The implicit price deflator for business output, which exhibits changes in unit labor costs and unit nonlabor payments, rose 3.
For the GDP Implicit Price Deflator and Consumer Price Index, the annual average is the percent change in the fourth quarter index level from the fourth quarter index level of the previous year.
The accompanying tables analyze the level of total and per capita gross economic product (GNP), the economic structures of the nation or region expressed in terms of percentage shares of GNP by type of expenditure and gross value added by kind of economic activity, an analysis of economic development expressed in terms of the real growth of GNP and its components by type of expenditure and kind of economic activity, and an analysis of price development expressed in terms of implicit price deflators of GNP.