statistics

GDP at Chained volume measure

GDP at Chained volume measure

GDP at chained volume measure is a series of GDP statistics adjusted for the effect of inflation to give a measure of ‘real GDP’. Chained volume GDP statistics are calculated by measuring output using the price level of the preceding year and then linking the statistics to give a reflection of actual output changes and excluding any monetary (inflationary) change. A chained volume measure differs from using just the CPI inflation figure and subtracting the inflation rate from nominal GDP. The CPI inflation rate measures inflation by using a fixed basket…