Nominal Gross Domestic Product for Russia
Annual
NGDPXDCRUA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
201,152,092.20
Year-over-Year Change
195.36%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual Gross Domestic Product (GDP) Deflator, Chained Dollars measures the change in prices for all goods and services produced in the U.S. economy. It is a key indicator of overall inflation and a vital metric for policymakers and economists.
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 tracks the prices of all final goods and services in the economy, rather than just a subset like the Consumer Price Index. It is used to adjust nominal GDP figures for inflation, allowing for analysis of real economic growth over time.
Methodology
The Bureau of Economic Analysis calculates the GDP deflator by dividing nominal GDP by real GDP.
Historical Context
The GDP deflator is an important tool for assessing the state of the broader economy and informing monetary and fiscal policy decisions.
Key Facts
- The GDP deflator measures prices for all domestic economic output, not just consumer goods.
- It is a broader measure of inflation than the Consumer Price Index (CPI).
- The GDP deflator is used to convert nominal GDP to real GDP, adjusting for inflation.
FAQs
Q: What does this economic trend measure?
A: The Annual Gross Domestic Product (GDP) Deflator, Chained Dollars tracks the change in prices for all goods and services produced in the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The GDP deflator is a vital metric for understanding overall economic inflation and enables analysis of real economic growth by adjusting nominal GDP figures.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis calculates the GDP deflator by dividing nominal GDP by real GDP.
Q: How is this trend used in economic policy?
A: The GDP deflator is an important tool for assessing the broader economy and informing monetary and fiscal policy decisions by policymakers.
Q: Are there update delays or limitations?
A: The GDP deflator data is published quarterly by the Bureau of Economic Analysis with typical update delays of 1-2 months.
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Citation
U.S. Federal Reserve, Annual Gross Domestic Product (GDP) Deflator, Chained Dollars (NGDPXDCRUA), retrieved from FRED.