MarketXLS

GDP Deflator (Implicit Price Deflator)

133.81 for Q2 2026

GDP Deflator (Implicit Price Deflator) came in at 133.81 (Index 2017=100) for Q2 2026, up 1.53% from 131.78 the prior quarter and 4.33% above its level of 128.25 one year ago. The series has averaged 54.28 since 1947, reaching a record high of 133.81 in April 2026 and a record low of 11.14 in January 1947.

Source: Federal Reserve Economic Data (FRED), St. Louis Fed

Embed this chart

Preview ↗

Free to use on your site, blog, or newsletter. The chart stays current automatically - just keep the built-in attribution link. Click the code to copy it.

<iframe src="https://marketxls.com/embed/indicators/gdp-deflator" width="100%" height="460" frameborder="0" title="GDP Deflator (Implicit Price Deflator) chart"></iframe>
Cite this data: "GDP Deflator (Implicit Price Deflator)," MarketXLS. Data from Federal Reserve Economic Data (FRED), St. Louis Fed. marketxls.com/indicators/gdp-deflator

Historical Data

Observation dateValue
April 1, 2026133.81
January 1, 2026131.78
October 1, 2025130.62
July 1, 2025129.43
April 1, 2025128.25
January 1, 2025127.58
October 1, 2024126.45
July 1, 2024125.7
April 1, 2024125.17
January 1, 2024124.37
October 1, 2023123.41
July 1, 2023122.91
April 1, 2023121.92
January 1, 2023121.29
October 1, 2022120.16
July 1, 2022119.03
April 1, 2022117.73
January 1, 2022115.13
October 1, 2021112.85
July 1, 2021110.94
April 1, 2021109.26
January 1, 2021107.58
October 1, 2020106.23
July 1, 2020105.57
April 1, 2020104.61
January 1, 2020105.03
October 1, 2019104.52
July 1, 2019104.19
April 1, 2019103.86
January 1, 2019103.33
October 1, 2018103.02
July 1, 2018102.58
April 1, 2018102.14
January 1, 2018101.42
October 1, 2017100.78
July 1, 2017100.16
April 1, 201799.65
January 1, 201799.39
October 1, 201698.89
July 1, 201698.41
April 1, 201698.16
January 1, 201697.5
October 1, 201597.58
July 1, 201597.58
April 1, 201597.33
January 1, 201596.77
October 1, 201496.82
July 1, 201496.73
April 1, 201496.33
January 1, 201495.79
October 1, 201395.43
July 1, 201394.92
April 1, 201394.46
January 1, 201394.26
October 1, 201293.89
July 1, 201293.42
April 1, 201292.91
January 1, 201292.53
October 1, 201191.99
July 1, 201191.88
April 1, 201191.33
January 1, 201190.73
October 1, 201090.26
July 1, 201089.74
April 1, 201089.47
January 1, 201089.04
October 1, 200988.78
July 1, 200988.5
April 1, 200988.4
January 1, 200988.54
October 1, 200888.61
July 1, 200888.4
April 1, 200887.74
January 1, 200887.32
October 1, 200786.99
July 1, 200786.64
April 1, 200786.17
January 1, 200785.58
October 1, 200684.77
July 1, 200684.47
April 1, 200683.88
January 1, 200683.16
October 1, 200582.57
July 1, 200581.9
April 1, 200581.16
January 1, 200580.58
October 1, 200479.94
July 1, 200479.32
April 1, 200478.82
January 1, 200478.19
October 1, 200377.64
July 1, 200377.17
April 1, 200376.73
January 1, 200376.46
October 1, 200276.09
July 1, 200275.65
April 1, 200275.29
January 1, 200275.03
October 1, 200174.79
July 1, 200174.56
April 1, 200174.27
January 1, 200173.82
October 1, 200073.34
July 1, 200072.94
April 1, 200072.52
January 1, 200072.07
October 1, 199971.6
July 1, 199971.2
April 1, 199970.95
January 1, 199970.68
October 1, 199870.45
July 1, 199870.26
April 1, 199869.96
January 1, 199869.79
October 1, 199769.7
July 1, 199769.46
April 1, 199769.16
January 1, 199769.03
October 1, 199668.62
July 1, 199668.25
April 1, 199668.03
January 1, 199667.75
October 1, 199567.42
July 1, 199567.1
April 1, 199566.77
January 1, 199566.45
October 1, 199466.09
July 1, 199465.74
April 1, 199465.36
January 1, 199465.05
October 1, 199364.74
July 1, 199364.39
April 1, 199364.01
January 1, 199363.63
October 1, 199263.27
July 1, 199262.84
April 1, 199262.54
January 1, 199262.16
October 1, 199161.93
July 1, 199161.57
April 1, 199161.09
January 1, 199160.64
October 1, 199060.06
July 1, 199059.61
April 1, 199059.11
January 1, 199058.45
October 1, 198957.83
July 1, 198957.42
April 1, 198957
January 1, 198956.4
October 1, 198855.82
July 1, 198855.34
April 1, 198854.69
January 1, 198854.16
October 1, 198753.74
July 1, 198753.31
April 1, 198752.91
January 1, 198752.55
October 1, 198652.21
July 1, 198651.93
April 1, 198651.72
January 1, 198651.52
October 1, 198551.27
July 1, 198550.98
April 1, 198550.68
January 1, 198550.35
October 1, 198449.86
July 1, 198449.49
April 1, 198449.06
January 1, 198448.64
October 1, 198348.15
July 1, 198347.79
April 1, 198347.29
January 1, 198346.94
October 1, 198246.59
July 1, 198246.11
April 1, 198245.46
January 1, 198244.88
October 1, 198144.27
July 1, 198143.52
April 1, 198142.72
January 1, 198141.89
October 1, 198040.81
July 1, 198039.77
April 1, 198038.91
January 1, 198038
October 1, 197937.22
July 1, 197936.54
April 1, 197935.76
January 1, 197934.9
October 1, 197834.28
July 1, 197833.59
April 1, 197833.03
January 1, 197832.41
October 1, 197731.95
July 1, 197731.27
April 1, 197730.9
January 1, 197730.47
October 1, 197629.98
July 1, 197629.46
April 1, 197629.08
January 1, 197628.79
October 1, 197528.49
July 1, 197528.02
April 1, 197527.53
January 1, 197527.13
October 1, 197426.53
July 1, 197425.77
April 1, 197425.04
January 1, 197424.46
October 1, 197324
July 1, 197323.54
April 1, 197323.09
January 1, 197322.74
October 1, 197222.48
July 1, 197222.19
April 1, 197221.98
January 1, 197221.85
October 1, 197121.52
July 1, 197121.34
April 1, 197121.13
January 1, 197120.85
October 1, 197020.54
July 1, 197020.27
April 1, 197020.11
January 1, 197019.83
October 1, 196919.56
July 1, 196919.31
April 1, 196919.04
January 1, 196918.8
October 1, 196818.61
July 1, 196818.35
April 1, 196818.17
January 1, 196817.98
October 1, 196717.78
July 1, 196717.59
April 1, 196717.42
January 1, 196717.33
October 1, 196617.26
July 1, 196617.12
April 1, 196616.95
January 1, 196616.82
October 1, 196516.71
July 1, 196516.6
April 1, 196516.53
January 1, 196516.46
October 1, 196416.37
July 1, 196416.3
April 1, 196416.23
January 1, 196416.2
October 1, 196316.15
July 1, 196316.02
April 1, 196316
January 1, 196315.97
October 1, 196215.9
July 1, 196215.87
April 1, 196215.83
January 1, 196215.81
October 1, 196115.73
July 1, 196115.68
April 1, 196115.64
January 1, 196115.6
October 1, 196015.57
July 1, 196015.52
April 1, 196015.47
January 1, 196015.43
October 1, 195915.37
July 1, 195915.31
April 1, 195915.25
January 1, 195915.22
October 1, 195815.19
July 1, 195815.12
April 1, 195815.03
January 1, 195814.98
October 1, 195714.82
July 1, 195714.81
April 1, 195714.72
January 1, 195714.62
October 1, 195614.42
July 1, 195614.37
April 1, 195614.19
January 1, 195614.1
October 1, 195513.96
July 1, 195513.83
April 1, 195513.73
January 1, 195513.68
October 1, 195413.61
July 1, 195413.57
April 1, 195413.56
January 1, 195413.54
October 1, 195313.5
July 1, 195313.48
April 1, 195313.42
January 1, 195313.39
October 1, 195213.39
July 1, 195213.35
April 1, 195213.21
January 1, 195213.19
October 1, 195113.2
July 1, 195113.05
April 1, 195113.04
January 1, 195112.95
October 1, 195012.5
July 1, 195012.27
April 1, 195012.01
January 1, 195011.97
October 1, 194911.99
July 1, 194911.99
April 1, 194912.04
January 1, 194912.17
October 1, 194812.23
July 1, 194812.19
April 1, 194811.97
January 1, 194811.87
October 1, 194711.77
July 1, 194711.49
April 1, 194711.3
January 1, 194711.14

About GDP Deflator (Implicit Price Deflator)

What it measures

The GDP Implicit Price Deflator (FRED series GDPDEF) measures the price level of all domestically produced goods and services, calculated as nominal GDP divided by real GDP. The Bureau of Economic Analysis publishes it quarterly as an index. Unlike the CPI, its basket changes with the actual composition of output each period.

Why it matters

The deflator is the broadest US inflation measure because it covers everything the economy produces, including investment goods, government purchases, and exports, not just consumer purchases. Economists use it to convert nominal figures into real terms and to cross-check inflation signals from the CPI and PCE price indexes, which cover narrower baskets.

How to read it

Track the annualized percentage change rather than the index level. Persistent acceleration signals broad-based inflation across the economy, while deceleration indicates cooling price pressure. Because the deflator includes export prices but excludes imports, it can diverge from consumer inflation measures when trade prices move sharply. It is quarterly and revised, so it lags monthly inflation gauges.

Get GDP Deflator (Implicit Price Deflator) in Excel

Pull GDP Deflator (Implicit Price Deflator) directly into your spreadsheet with a single MarketXLS formula - always current, no copy-pasting:

=GDPPriceDeflator()

View the GDP Price Deflator formula documentation or browse all 100+ Economic Data functions.

Frequently Asked Questions

What is the current GDP Deflator (Implicit Price Deflator)?

GDP Deflator (Implicit Price Deflator) is 133.81 (Index 2017=100) as of April 2026.

What is the all-time high and low of GDP Deflator (Implicit Price Deflator)?

The highest value on record is 133.81 (April 2026) and the lowest is 11.14 (January 1947).

How often is GDP Deflator (Implicit Price Deflator) updated?

GDP Deflator (Implicit Price Deflator) is published on a quarterly basis, sourced from Federal Reserve Economic Data (FRED).

How do I get GDP Deflator (Implicit Price Deflator) in Excel?

Use the MarketXLS Excel formula =GDPPriceDeflator() to pull GDP Deflator (Implicit Price Deflator) directly into any cell, with historical values available for analysis.

Basic info
The gross domestic product implicit price deflator, or GDP deflator, measures changes in the prices of goods and services produced in the United States, including those exported to other countries. Prices of imports are excluded.
RegionUnited States
FrequencyQuarterly
Last updatedJuly 30, 2026
Seasonal adjustmentSeasonally Adjusted
UnitIndex 2017=100

Stats
Last Value133.81
Latest PeriodQ2 2026
Last UpdatedJuly 30 2026, 10:08
Value Previous Quarter131.78
Change From Previous Quarter1.53%
Value 1 Year Ago128.25
Change From Year Ago4.33%
Average Growth Rate3.19%/yr
Record High (Apr 2026)133.81
Record Low (Jan 1947)11.14
Long-Term Average54.28
FrequencyQuarterly
AdjustmentSeasonally Adjusted
UnitIndex 2017=100

Annual Averages
2026132.79
2025128.97
2024125.42
2023122.38
2022118.01
2021110.16
2020105.36
2019103.97
2018102.29
2017100
201698.24
201597.31

Related Indicators
Consumer Price Index (CPI)
Core CPI (Less Food & Energy)
CPI: Food
CPI: Energy
PCE Price Index
Core PCE Price Index
Producer Price Index (Final Demand)
PPI: Finished Goods
PPI: Processed Goods for Intermediate Demand
PPI: Unprocessed Goods for Intermediate Demand
Core PPI (Less Food & Energy)
PPI: Finished Goods Less Food & Energy
<< PREVIOUS INDICATOR
NEXT INDICATOR>>