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Metadata Glossary

CodeNY.GDP.DEFL.ZS
Indicator NameGDP deflator (base year varies by country)
Long definitionThe GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. The base year varies by country.
SourceWorld Bank national accounts data, and OECD National Accounts data files.
TopicFinancial Sector: Exchange rates & prices
PeriodicityAnnual
Base Periodvaries by country
Statistical concept and methodologyInflation is measured by the rate of increase in a price index, but actual price change can be negative. The index used depends on the prices being examined. The GDP deflator reflects price changes for total GDP. The most general measure of the overall price level, it accounts for changes in government consumption, capital formation (including inventory appreciation), international trade, and the main component, household final consumption expenditure. The GDP deflator is usually derived implicitly as the ratio of current to constant price GDP - or a Paasche index. It is defective as a general measure of inflation for policy use because of long lags in deriving estimates and because it is often an annual measure.
License URLhttps://datacatalog.worldbank.org/public-licenses#cc-by
License TypeCC BY-4.0
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