Deflator Data includes values necessary for converting dollar values from nominal dollars to real dollars, which adjusts for inflation between the Data Set Year and a particular Dollar Year.
This Data contains Deflators for Output in each IMPLAN Industry as well as other Entities such as Value Added and Institutions.
Deflators are available for adjusting dollar values from any IMPLAN Data Set Year to Dollar Years ranging from 1997 to 2060. Nominal dollars are in the Dollar Year matching the Data Set Year. To manually adjust a nominal dollar value to be in a different Dollar Year multiply the nominal dollar value by the appropriate Deflator. When Dollar Year equals Data Set Year, Deflators equal 1.
Dollar Values throughout the Data Library can be adjusted for inflation by Looker by choosing “Real” as the Dollar Type where applicable. Choosing “Nominal” as the Dollar Type displays unadjusted dollar values.
Additional details on deflators and IMPLAN’s source data can be found in the Deflators from the Data Team article.
Written November 23, 2020