Calculate a gross domestic product (GDP) implicit price deflator between two years.

Source: R/pipeline-helpers.R

The GDP deflator is a measure of price inflation with respect to a specific base year; it allows us to back out the effects of inflation when we compare prices over time. This function calculates a deflator given a base year (the year to convert from) and a conversion year (the year to convert to). To use the deflator, multiply prices in base-year dollars by the deflator; the result will be prices in the converted dollar year.

gdp_deflator(year, base_year)

Source

U.S. Bureau of Economic Analysis, Gross domestic product (implicit price deflator) [A191RD3A086NBEA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/A191RD3A086NBEA, April 12, 2017

Arguments

year

Year to convert TO.

base_year

Year to convert FROM.

Value

GDP Deflator. Multiply to convert FROM base_year dollars TO year dollars.

Author

BBL

Examples

gdp_bil_1990USD <- c(4770, 4779, 4937)
gdp_bil_2010USD <- gdp_bil_1990USD * gdp_deflator(2010, base_year = 1990)