Measures changes in the prices of goods and services that are included in US GDP. The GDP Price Index is an indicator for inflation calculated by comparing the current GDP to GDP in the reference year. A high or rising GDP Price Index, like other indicators of inflation, puts pressure on the Federal Reserve to raise interest rates.
The GDP price index differs from other more popular inflation measures like CPI, in that it includes all products accounted for by GDP and does not include the affects of changes in import prices. Furthermore, the report is only released quarterly and commands little market attention because of it lack of timeliness.
The headline figure is the annualized percentage change.
Relevance: Rarely affects markets
Release schedule : 8:30 AM (EST); Quarterly
Revisions schedule : Moderate monthly revisions, plus more substantial annual revisions at the end of July
Source of report : Bureau of Economic Analysis, Department of Commerce (U.S.)
Web Address : http://www.bea.gov/
Address of release : http://www.bea.gov/bea/dn/home/gdp.htm
AKA : Gross Domestic Product Index
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