GDP Deflator someone, please, technical, without

Foufou

Can someone please put this in Layman's terms, without using all the technical jargon? Is it simply the price level for the real GDP?

This is with regards to L1V2 (econ).

bapswarrior

You are correct. GDP deflator is a price index. The difference between GDP deflator and CPI, for example, is that different baskets are used for price levels.