what is a gdp deflator
From Wikipedia, the free encyclopedia. In economics, the GDP deflator (implicit price deflator) is a measure of the level of prices of all new, domestically produced, final goods and services in an economy.GDP stands for gross domestic product, the total value of all final goods and services produced within that economy during a specified period.nlike the CPI, the GDP deflator is not based on a fixed basket of goods and services; the basket for the GDP deflator is allowed to change from year to year with people's consumption and investment patterns.