What is the GDP Inflator?
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What is the GDP Deflator?
GDP Deflator is a price index used to convert the stated level of GDP in an economy into real terms. This means that you are converting the current dollar value to the same dollar value at an earlier time period, so that you can compare the GDP level in dollars with the same purchasing power.
The formula for the DDP Price Deflator is as follows:
GDP Price Deflator = (Nominal GDP ÷ Real GDP) × 100