GNP deflator
Definition
Gross National Product deflator. The ratio of a country's nominal GNP to its real GNP, expressed as a percentage. It measures the percentage increase or decrease in the price of products and services (inflation) by comparing the current GNP to a base period.
Use GNP deflator in a sentence
“ The GNP deflator was used as we wanted a metric that would take into consideration inflation on the bottom line. ”
“ The USA's GNP deflator reached an all-time high of 108.64% in 2014, meaning that consumers had to spend more on domestic goods in 2014 than in any previous year. ”
“ My father is extremely worried after viewing the GNP deflator; it would seem as though inflation is very prevalent and he will be unable to retire on his current savings. ”
