A statistical tool used to convert current dollars into inflation-adjusted dollars,...

a statistical factor designed to remove the effect of inflation; inflation adjusted variables are in constant dollars; as, the GNP deflator..

'Deflating' is the process of turning a 'nominal' figure into a 'real' one in order to reflect volume movements. Hence a deflator is an index of price change.

The equivalent of the effect of inflation when one considers the difference between real and nominal GDP. See Gross National Product.

The ratio of a nominal magnitude to its real counterpart. Usually refers, as with the GDP deflator, when the real magnitude has been constructed from underlying data and not by simply deflating the nominal magnitude by a corresponding price index, in which case the deflator itself may be used as though it were a price index.

Index used to adjust a current dollar amount to its constant dollar counterpart; that is, to remove the effects of inflation.

a statistical tool that changes current dollars into inflation-adjusted dollars so we can easily compare prices over different time periods

Difference between real and nominal Gross National Product, which is equivalent to the overall inflation rate.

A measure of the price level for some quantity - most often GDP or GNP. For GDP, the deflator is calculated by the ratio of nominal GDP to real GDP.

Statistical factor used to adjust the difference between real value and inflation affected value. See: Inflation