During that period, the Consumer Price Index, which measures the average change in prices over time for a basket of consumer goods and services, grew at a 3% annualized clip.
The GDP deflator reflects the prices of a basket of goods and services, the contents of which change over time to reflect evolving patterns of spending.
The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.