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Definition: Deflation
Category: Producer price indices
The division of the value of some aggregate by a price index - described as a "deflator" - in order to revalue its quantities at the prices of the price reference period or to revalue the aggregate at the general price level of the price reference period. http://ec.europa.eu/eurostat/ramon/coded_files/OECD_data_metadata_report_handbook_EN.pdf Eurostat, Organization for Economic Cooperation and Development (OECD), "Eurostat-OECD Methodological Guide for Developing Producer Price Indices for Services (Second Edition)", Luxembourg, Paris, 2014
Source:
ILO, IMF, OECD, UNECE, World Bank, 2004, "Producer Price Index Manual: Theory and Practice", International Monetary Fund, Washington, Glossary [quoted in Organisation for Economic Co-operation and Development (OECD), "Data and Metadata Reporting and Presentation Handbook", OECD, Paris, 2007]
ILO, IMF, OECD, UNECE, World Bank, 2004, "Producer Price Index Manual: Theory and Practice", International Monetary Fund, Washington, Glossary [quoted in Organisation for Economic Co-operation and Development (OECD), "Data and Metadata Reporting and Presentation Handbook", OECD, Paris, 2007]
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