Inflation · GDPDEF

GDP price deflator

As of Q2 2026, the GDP price deflator had risen 4.0% from a year earlier, compared with a 12-month change of 3.0% in Q1 2026. The latest value was 133.411 (index 2017=100).

Source: U.S. Bureau of Economic Analysis via FRED®. Quarterly data, seasonally adjusted. Latest observation Q2 2026; snapshot taken Oct 27, 2026, 2:15 AM EDT.

Latest (Q2 2026)

133.411

Change from Q1 2026

+1.5%

A year earlier

128.243

12-month change

+4.0%

133.411 Q2 2026 · Index 2017=100

10511011512012513013520222023202420252026

Index 2017=100. Data from Q1 1947 to Q2 2026 (318 observations).

What it measures

The GDP price deflator measures price changes for everything produced in the U.S., including business investment, government purchases and exports, not just consumer purchases. It is the ratio of nominal GDP to real GDP.

Official title
Gross Domestic Product: Implicit Price Deflator
Units
Index 2017=100
Frequency and adjustment
Quarterly, seasonally adjusted
Original source
U.S. Bureau of Economic Analysis
Recent values
DateValueChangeFrom a year ago
Q2 2026133.411+1.5%+4.0%
Q1 2026131.440+0.8%+3.0%
Q4 2025130.412+0.9%+3.0%
Q3 2025129.310+0.8%+2.8%
Q2 2025128.243+0.5%+2.3%
Q1 2025127.576+0.8%+2.4%
Q4 2024126.596+0.6%+2.4%
Q3 2024125.813+0.4%+2.3%
Q2 2024125.355+0.6%+2.8%
Q1 2024124.560+0.8%+2.7%
Q4 2023123.579+0.5%+2.8%
Q3 2023122.933+0.8%+3.3%

Related indicators

GDP (nominal)

6.3%

12-month change · Q2 2026

Real GDP

2.2%

12-month change · Q2 2026

PCE inflation

3.4%

12-month change · Aug 2026

This page shows public economic data for general information. It is not financial advice and does not predict future values.

Sources

FRED® is a registered trademark of the Federal Reserve Bank of St. Louis. Neither the Federal Reserve Bank of St. Louis nor U.S. Bureau of Economic Analysis endorses OpenEcon.