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In economics, the GDP deflator (implicit price deflator) is a measure of the money price of all new, domestically produced, final goods and services in an economy in ...
In statistics, a deflator is a value that allows data to be measured over time in terms of some base period, usually through a price index, in order to distinguish between changes in the money value of a gross national product (GNP) that come from a change in prices, and changes from a change in physical output. It is the measure of the price ...
GDP deflator for year = Real GDP growth on an annual basis is the nominal GDP growth rate adjusted for inflation. It is usually expressed as a percentage. "GDP" may refer to "nominal" or "current" or "historical" GDP, to distinguish it from real GDP. Real GDP is sometimes called "constant" GDP because it is expressed in terms of constant prices.
The World Bank has used the Atlas method [1] since 1993 to estimate the economic size of countries based on their gross national income (GNI) in U.S. dollars.. To convert a country's GNI from its local currency to U.S. dollars, the Atlas method uses a conversion factor that averages exchange rates over three years.
The factor used to convert GDP from current to constant values in this way is called the GDP deflator. Unlike consumer price index , which measures inflation or deflation in the price of household consumer goods, the GDP deflator measures changes in the prices of all domestically produced goods and services in an economy including investment ...
GDP deflator is a measure of the price of all the goods and services included in gross domestic product (GDP). The US Commerce Department publishes a deflator series ...
The PCE price index (PePP), also referred to as the PCE deflator, PCE price deflator, or the Implicit Price Deflator for Personal Consumption Expenditures (IPD for PCE) by the Bureau of Economic Analysis (BEA) and as the Chain-type Price Index for Personal Consumption Expenditures (CTPIPCE) by the Federal Open Market Committee (FOMC), is a United States-wide indicator of the average increase ...
Where PPPrate X,i is the PPP exchange rate of country X for year i, PPPrate X,b is the PPP exchange rate of country X for the benchmark year, PPPrate U,b is the PPP exchange rate of the United States (US) for the benchmark year (equal to 1), GDPdef X,i is the GDP deflator of country X for year i, GDPdef X,b is the GDP deflator of country X for ...