August 27, 2020
There are many different deflators that are available. This one is for gross domestic purchases which measures prices paid by U.S. residents. It is the one measure of inflation that the Commerce Department talks about when it releases the GDP report. It is our broadest measure of inflation and contains more than 5,000 goods and services.
The gross domestic purchases deflator fell by 1.8% in the second quarter after having risen 1.4% in the first quarter,
Excluding the volatile food and energy components this index declined by 0.8% in the second quarter after having risen 1.6% in the first quarter.