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inflation

bartonkn

May 23, 2014 20:19

Quick question: are the adjustments made in INPLAN for inflation industry specific or is the general CPI adjustment factor used? For example, are industries related to medical care adjusted for medical inflation? I want to make sure that I am discussing inputs in the same dollars as outputs. THANKS!

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IMPLAN Support
May 28, 2014 17:01

Hi Kelli. The Output Deflator is used to convert the Industry Sales value to the year of the dataset, while the GDP Deflator converts the Value-Added values to the year of the dataset. The Output Deflators are specific to each industry, while the GDP Deflators are the same across industries. You can see the deflator values in the Setup Activities screen whenever you change the Event Year. As for the source of our inflators/deflators: The BEA has historical GDP and Output deflators which we use for past to current Output Deflators. For projections into the future, IMPLAN uses the annual rate of change in output from the BLS' employment growth model.

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