GDP Deflator
Get the Gross Domestic Product Deflator for a variety of countries over time from the Global Macro Database (GMDB). The GDP deflator is a measure of the price of all domestically produced final goods and services in an economy relative to the price level in a base year.
The deflator is an annual index with 2015 = 100 for every country.
The GDP deflator is the broadest measure of domestic inflation: it covers everything produced in the economy, including investment goods and government services, and leaves out imports, whereas the Consumer Price Index follows a fixed basket of what households buy, imports included. Its yearly change is compared with CPI inflation; a gap between the two often points to import prices or the terms of trade, as during an energy shock.
Data comes from the Global Macro Database (GMDB), further information about the variable can be found within https://www.globalmacrodata.com/documentation.html
Also known as: GDP deflator, implicit price deflator.
GDP Deflator in Python or via the MCP
Install the Finance Toolkit with:
pip install financetoolkit -U
Then call get_gross_domestic_product_deflator as shown below.
from financetoolkit import Economics
economics = Economics(start_date='2015-01-01', end_date="2025-12-31")
economics.get_gross_domestic_product_deflator(countries=['United States', 'Canada', 'Russian Federation'])
Or, after setting up the Finance Toolkit MCP, ask:
How did the GDP deflator of the United States, Canada and Russia develop from 2015 to 2025?
Which returns:
| United States | Canada | Russian Federation | |
|---|---|---|---|
| 2015 | 100 | 100 | 100 |
| 2016 | 100.95 | 100.717 | 102.844 |
| 2017 | 102.758 | 103.306 | 108.345 |
| 2018 | 105.112 | 105.012 | 119.179 |
| 2019 | 106.847 | 106.636 | 123.068 |
| 2020 | 108.284 | 107.778 | 124.173 |
| 2021 | 113.225 | 116.168 | 146.784 |
| 2022 | 121.278 | 125.325 | 173.542 |
| 2023 | 125.766 | 127.261 | 185.098 |
| 2024 | 128.887 | 130.738 | 204.816 |
| 2025 | 132.537 | 134.076 | 214.754 |
Parameters
get_gross_domestic_product_deflator accepts the following parameters.
| Parameter | Type | Description | Example |
|---|---|---|---|
countries | list[str] | str | None | A list of countries or a single country to include in the results. Defaults to None. | ["United States", "Germany"] |
rolling | int | The rolling window size to use for smoothing the data (simple moving average). Defaults to None. | 4 |
trailing | int | The trailing window size to use for summing the data over trailing periods (e.g. a trailing-4-quarter sum). Defaults to None. | 4 |
growth | bool | Whether to return the growth data or the actual data. Defaults to False. | True |
lag | int | The number of periods to lag the growth data. Defaults to 1. | 4 |
standardize | bool | Whether to standardize (Z-Score) the result. When combined with growth=True, standardizes the growth values instead of the raw values. Defaults to False. | True |
rounding | int | None | The number of decimals to round the results to. Defaults to None. | 2 |
gmdb_forecasts | bool | Whether to include the years the Global Macro Database projects, from the IMF’s World Economic Outlook, up to five years ahead. Only applies to data from the Global Macro Database. Defaults to False, which ends a series with its last observation. | True |