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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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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