In: Economics
How to Calculate the inflation rate for a known year solution to an unknown year solution (2020–2021) period using the GDP deflator based on the Laspeyres, Paasche, and chain-weighted indexes of GDP..
GDP Deflator is a measurement of price level of domestically
produced good and services in an economy.
Laspeyres Index is a consumer price index used to measure the
change in prices of goods and services.
Paasche price index is a consumer price index used to measure the
change in the price and quantity of a goods and services relating
to a base year price and observations.
Example:-GDP deflator rate calculator