National Accounts: National Accounts Deflators: Gross Domestic Product: GDP Deflator for Australia
AUSGDPDEFQISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132.32
Year-over-Year Change
18.54%
Date Range
1/1/1960 - 7/1/2023
Summary
The GDP Deflator for Australia is a broad measure of inflation in the Australian economy. It tracks changes in the prices of all goods and services that make up GDP, providing insight into overall economic conditions.
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 price index that captures the overall change in prices for all final goods and services produced in the Australian economy. It is an important indicator for policymakers and analysts tracking the nation's economic performance.
Methodology
The Australian Bureau of Statistics calculates the GDP Deflator using data from the national accounts.
Historical Context
The GDP Deflator is a key input for real GDP growth figures and is closely monitored by the Reserve Bank of Australia and other economic institutions.
Key Facts
- The GDP Deflator tracks changes in the prices of all goods and services in the Australian economy.
- It is a comprehensive measure of inflation, unlike more narrowly focused indexes like the CPI.
- The GDP Deflator is a critical input for calculating real GDP growth.
FAQs
Q: What does this economic trend measure?
A: The GDP Deflator for Australia measures changes in the overall price level of goods and services that make up the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: The GDP Deflator is a key indicator of inflationary pressures in the broader Australian economy, providing insight into economic conditions beyond the more narrowly focused consumer price index.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics calculates the GDP Deflator using data from the national accounts.
Q: How is this trend used in economic policy?
A: The GDP Deflator is closely monitored by the Reserve Bank of Australia and other policymakers as they assess overall economic performance and make decisions on monetary policy.
Q: Are there update delays or limitations?
A: The GDP Deflator data is published quarterly, with some delays, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, National Accounts: National Accounts Deflators: Gross Domestic Product: GDP Deflator for Australia (AUSGDPDEFQISMEI), retrieved from FRED.