Comparing the Consumer Price Index with the gross domestic product price index and gross domestic product implicit price deflator | Zendy

Jonathan Church | Zendy

Open Access

Comparing the Consumer Price Index with the gross domestic product price index and gross domestic product implicit price deflator

Author(s) -

Jonathan Church

Publication year - 2016

Publication title -

monthly labor review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.265

H-Index - 54

eISSN - 1937-4658

pISSN - 0098-1818

DOI - 10.21916/mlr.2016.13

Subject(s) - gdp deflator , consumer price index (south africa) , producer price index , gross domestic product , index (typography) , price index , economics , wholesale price index , personal consumption expenditures price index , gross domestic income , product (mathematics) , hedonic index , price level , econometrics , monetary economics , mid price , macroeconomics , mathematics , consumer confidence index , gross income , public economics , monetary policy , geometry , tax reform , world wide web , computer science , state income tax

The Consumer Price Index (CPI) and the gross domestic product (GDP) price index and implicit price deflator are measures of inflation in the U.S. economy. The CPI measures price changes in goods and services purchased out of pocket by urban consumers, whereas the GDP price index and implicit price deflator measure price changes in goods and services purchased by consumers, businesses, government, and foreigners, but not importers. Thus, which one to use in a given scenario depends on one’s purpose.

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