National Accounts: National Accounts Deflators: Gross Domestic Product: GDP Deflator for Canada
Annual
CANGDPDEFAISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.92
Year-over-Year Change
34.22%
Date Range
1/1/1961 - 1/1/2022
Summary
The Annual Gross Domestic Product (GDP) Deflator for Canada measures the rate of inflation in the overall Canadian economy. It is a key indicator used by policymakers and economists to assess changes in the purchasing power of the Canadian dollar.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The GDP Deflator is a comprehensive measure of price changes in all goods and services that make up the Canadian Gross Domestic Product. It captures inflation across the entire economy, unlike narrower measures like the Consumer Price Index (CPI).
Methodology
The GDP Deflator is calculated by dividing the current-dollar value of GDP by the constant-dollar value of GDP, with the base year set to 100.
Historical Context
The GDP Deflator is widely used by the Bank of Canada and other policymakers to inform monetary and fiscal policy decisions.
Key Facts
- The GDP Deflator was 109.78 in 2021.
- The GDP Deflator has risen at an average annual rate of 2.1% since 2000.
- The GDP Deflator is a more comprehensive measure of inflation than the CPI.
FAQs
Q: What does this economic trend measure?
A: The Annual Gross Domestic Product (GDP) Deflator for Canada measures the overall rate of inflation in the Canadian economy.
Q: Why is this trend relevant for users or analysts?
A: The GDP Deflator is a key indicator used by policymakers and economists to assess changes in the purchasing power of the Canadian dollar and inform economic policy decisions.
Q: How is this data collected or calculated?
A: The GDP Deflator is calculated by dividing the current-dollar value of GDP by the constant-dollar value of GDP, with the base year set to 100.
Q: How is this trend used in economic policy?
A: The GDP Deflator is widely used by the Bank of Canada and other policymakers to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The GDP Deflator data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Annual Gross Domestic Product (GDP) Deflator for Canada (CANGDPDEFAISMEI), retrieved from FRED.