GDP Price Deflator

An economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP. The GDP deflator shows how much a change in the base year's GDP relies upon changes in the price level. Also known as the "GDP implicit price deflator".

Investopedia Says:
Because it isn't based on a fixed basket of goods and services, the GDP deflator has an advantage over the Consumer Price Index. Changes in consumption patterns or the introduction of new goods and services are automatically reflected in the deflator.

Related Links:
From unemployment and inflation to government policy, learn what macroeconomics measures and how it affects everyone. Macroeconomic Analysis