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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 ...
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.
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This sub-template returns the associated country's GDP deflator for a specific year. It is used by {{ Inflation/doc }} for calculating the inflation rate between two given years, which in turn is used by {{ Inflation }} to calculate inflated values.
This sub-template returns the associated country's GDP deflator for a specific year. It is used by {{Inflation/US-GDP}} for calculating the inflation rate between two given years, which in turn is used by {} to calculate inflated values. It usually isn't meant to be called directly.
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 ...
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 ...
The GDP does not measure prices and changes in the basket automatically. GDP measurements are combined with price index measurements to produce the GDP deflator. As the article formula shows, the GDP deflator is calculated by dividing nominal GDP by real GDP. In order to calculate real GDP, there needs to be an existing measurement of price change.