Estimated inflation:To calculate this column, use the percentage change version of the equation of exchange.

Column labeled deviation from true.To calculate this column, subtract the estimated rate of inflation from the actual rate of inflation shown in your GDPDEF column.

How do I do these calculations in EXCEL. Below is the data and columns.

• GDPDEF_PC1 Gross Domestic Product: Implicit Price Deflator, Percent Change from Year Ago, Annual, Seasonally Adjusted
• M2SL_PC1 M2 Money Stock, Percent Change from Year Ago, Annual, Seasonally Adjusted
• GDPC1_PC1 Real Gross Domestic Product, Percent Change from Year Ago, Annual, Seasonally Adjusted Annual Rate

Column A B C D E F estimated deviation from observation_date GDPDEF_PC1 M2SL_PC1 GDPC1_PC1 inflation true 1960-01-01 1.4 3.7 2.6 1961-01-01 1.1 6.8 2.6 1962-01-01 1.2 7.8 6.1 1963-01-01 1.1 8.4 4.4 1964-01-01 1.5 7.8 5.8 1965-01-01 1.8 8.1 6.5 1966-01-01 2.8 6.5 6.6