GovWire

A series for the GDP deflator in index form is produced by the Treasury from data provided by the Office for National Statistics (ONS) and the Office for Budget Responsibility (OBR). GDP deflator outturn are based on the ONS Quarterly National Accounts release (at the end of each quarter). However, a more recent version of ONS GDP outturn may be used depending on when the OBR updates its GDP deflator forecasts (usually at Budget and Spring Statement).

Forecasts covering periods 2022-23 to 2027-28 (2022 to 2027) are from the OBR as at the Autumn Statement 17 November 2022.

Outturn data are the Quarterly National Accounts figures from the ONS, 30 June 2022.

GDP deflators for financial years 1955-56 to 2021-22 have been taken directly from ONS series L8GG. GDP deflators for calendar years 1955 to 2021 have been taken from ONS series MNF2. Non-seasonally adjusted money GDP for calendar and financial years are taken from ONS series BKTL. For financial years only, seasonally adjusted money GDP series YBHA has also been included.

The next GDP deflator update will be shortly after the ONS Quarterly National Accounts release of 22 December 2022.