implicit price deflator

Definition

Economics

  • A broad measure of prices derived from separate estimates of real and nominal expenditures for GDP or a subcategory of GDP. Without qualification the term refers to the GDP deflator and is thus an index of prices for everything that a country produces, unlike the CPI, which is restricted to consumption and includes prices of imports.
http://www.dictionarycentral.com/definition/implicit-price-deflator.html