It does reflects inflation adjustment but not the fall to other currencies. GDP growth rate before inflation adjustment grew at 5.9% in Q3.
Millions of savers are being robbed of their personal savings with the devaluation of the dollar. If this isn’t clear to everyone, you need to learn more about the dollar devaluation.
http://ftalphaville.ft.com/blog/2007/11/07/8713/the-dollars-slide-13-down-and-falling-faster/
Here is a chart of the dollar’s buying power since the 1970’s.