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That's an increase of about 5% per year over 12 years. Average inflation is typically 3%. So on average adjusting for inflation, India grew by 2% per year. This
by djha-skin 4y ago
That's an increase of about 5% per year over 12 years. Average inflation is typically 3%. So on average adjusting for inflation, India grew by 2% per year. This small number does not seem like something worthy of a headline.
- hotpotamus 4y agoGDP numbers are always supposed to be reported in inflation adjusted terms.
- Thorrez 4y agoSo In 2020 I'd say "Country Foo had a GDP per capita of $1000 in 2000", and in 2023 I'd say "Country Foo had a GDP per capita of $1100 in 2000"? That's confusing.
- ajuc 4y agoIf you don't compare values between years it doesn't matter. When you compare them you adjust them to common base year.
- eru 4y agoWell, unless you are talking specifically about nominal GDP, which is also very important in economics.