GDP Price Deflator

Returns the GDP implicit price deflator, which measures the overall level of prices for all goods and services included in GDP. This is a broader measure of inflation than the CPI.

Data Details

Attribute Value
Source Bureau of Economic Analysis (BEA) / FRED
Frequency Quarterly
Base Year 2017 = 100
Coverage All goods and services in GDP

Notes

  • Broader than CPI as it covers all goods and services in the economy
  • Useful for converting nominal GDP to real GDP
  • Base year is typically 2017 (index = 100)

Examples

=GDPPriceDeflator()
Current GDP deflator index
=GDPPriceDeflator()/100-1
Approximate cumulative inflation since base year

When to Use

  • Measuring economy-wide inflation
  • Converting nominal values to real values
  • Economic research on price levels
  • Comparing inflation across broad categories

When NOT to Use

Scenario Use Instead
Consumer price inflation ConsumerPriceindex()
Producer prices ProducerPriceIndexFinalDemand()
Food prices ConsumerPriceindexFood()
Energy prices ConsumerPriceindexEnergy()

Common Issues & FAQ

Q: What is the base year? A: Typically 2017, where the index equals 100.

Q: How is this different from CPI? A: The GDP deflator covers all goods and services in the economy, while CPI focuses on consumer purchases.

Q: How often is it updated? A: Quarterly, with revisions as GDP data is revised.

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