Deflation of Distributional National Accounts (ESCoE DP 2021-01)

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Deflation of Distributional National Accounts (ESCoE DP 2021-01)

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In this note we discuss suitable deflators for distributional national accounts. Measures such as the top 10% income share, or the 90/10 income ratio do not require deflation. Other measures such as the income or income growth of particular percentiles of the income distribution do require deflation. We argue that democratic deflators are generally more appropriate than plutocratic deflators, and the ONS now produces democratic price indices for equivalised income quintiles and deciles, in addition to the aggregate democratic CPIH.

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