GDP deflators at market prices, and money GDP: December 2014 (Quarterly National Accounts)
This document contains the latest Gross Domestic Product (GDP) deflators. The GDP deflator can be viewed as a measure of general inflation in the domestic economy.
Documents
Details
A series for the GDP deflator in index form is produced by the Treasury from data provided by the Office for National Statistics (ONS) and the Office for Budget Responsibility (OBR). The GDP deflator set is updated after every ONS Quarterly National Accounts release (at the end of each quarter) and whenever the OBR updates its GDP deflator forecasts (usually twice a year).
Changes to National Accounts and Their Impact on GDP
GDP forecasts were produced at Autumn Statement 2014 and therefore data from 2014-15 onwards were revised as a result of the methodology described above.
Outturn data are the latest Quarterly National Accounts figures from the ONS, 23 December 2014. GDP deflators from 1955-56 to 2013-14 have been taken directly from fiscal period ONS series L8GG. GDP deflators from 1955 to 2013 have been taken from calendar period ONS series MNF2.
Forecasts are from the OBR as at the 3 December 2014 Autumn Statement. The next GDP deflator update will be shortly after the Budget which is due on 18 March 2014.