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On macroeconomic price trends

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  • Wolfgang Nierhaus

Abstract

The price index of the gross domestic product (GDP deflator) is one of the most important inflation indicators within the National Accounts framework. It measures the price development of the total production output of the economy. Last year a remarkable divergence emerged between the GDP deflator and the components of GDP. The price index of GDP increased by 1.8% while the price indices of final demand (consumption, gross investments and exports) grew at a clearly lower rate and the import price index was even regressive. This article shows how the GDP deflator is calculated and how the results are to be interpreted.

Suggested Citation

  • Wolfgang Nierhaus, 2003. "On macroeconomic price trends," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(03), pages 37-38, February.
    • Handle: RePEc:ces:ifosdt:v:56:y:2003:i:03:p:37-38
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    References listed on IDEAS

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    1. Wolfgang Nierhaus, 2000. "Real income in the new European System of Accounts," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 53(04), pages 07-13, February.
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    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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