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Like the consumer price index (CPI), the GDP deflator is a measure of price inflation/deflation with respect to a specific base year; the GDP deflator of the base year itself is equal to 100. Unlike the CPI, the GDP deflator is not based on a fixed basket of goods and services; the "basket" for the GDP deflator is allowed to change from year to ...
Most inflation data before the early 20th century is imputed based on the known costs of goods, rather than compiled at the time. It is also used to adjust for the differences in real standard of living for the presence of technology. Asset price inflation is an undue increase in the prices of real assets, such as real estate.
It is the measure of the price level for some quantity. A deflator serves as a price index in which the effects of inflation are nulled. [1] [2] [3] It is the difference between real and nominal GDP. [4] [5] In the United States, the import and export price indexes produced by the International Price Program are used as deflators in national ...
However, from December 1982 through December 2011, the all-items CPI-E rose at an annual average rate of 3.1 percent, compared with increases of 2.9 percent for both the CPI-U and CPI-W. [28] This suggests that the elderly have been losing purchasing power at the rate of roughly 0.2 (=3.1–2.9) percentage points per year.
This is to be expected because monetary base (M B), velocity of base money (V B), price level (P) and real output (Y) are related by definition: M B V B = PY. [26] However, the monetary base is a much narrower definition of money than M2 money supply. Additionally, the velocity of the monetary base is interest-rate sensitive, the highest ...
Taxes can be confusing. But it's important to understand how real estate and property taxes work, especially if you own land, a home or a vehicle. While many people use the terms interchangeably ...
A CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indices and sub-sub-indices can be computed for different categories and sub-categories of goods and services, which are combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the ...
A chained volume series is a series of economic data (such as GDP, GNP or similar kinds of data) from successive years, put in real (or constant, i.e. inflation- and deflation-adjusted) terms by computing the aggregate value of the measure (e.g. GDP or GNP) for each year using the prices of the preceding year, and then 'chain linking' the data together to obtain a time-series of figures from ...