Canada Gross Domestic Product (GDP) Implicit Price q/q shows changes in the prices for goods and services included in GDP calculation, in one quarter compared to the previous quarter. In contrast to the consumer price index, the GDP Implicit Price Deflator is calculated for the consumer basket as of the current year rather than the base year. Prices for imported goods and services are not taken into account.
The GDP Implicit Price Deflator is used when measuring inflation and economic activity.