Nominal GDP
Definition
GDP measured at current prices — uncorrected for inflation. Useful for snapshots, misleading for comparisons across time.
Example
If 2023 nominal GDP rose 8% but inflation was 5%, real GDP grew only 3%.
GDP measured at current prices — uncorrected for inflation. Useful for snapshots, misleading for comparisons across time.
If 2023 nominal GDP rose 8% but inflation was 5%, real GDP grew only 3%.