ICP-Latin America

The current round is not the first time the ICP is being run in the Latin America region. Ten countries represented the region in the 1993/1996 Global Round.  The same set of countries are participating in the 2005 Round in the full-scale ICP surveys, covering total GDP.

 

As part of the global initiative to establish the credibility of the ICP and to improve the quality of Purchasing Power Parity (PPP) estimates, the South American comparison was undertaken in light of the recommendations provided in the evaluation of the previous round.

 

The program is divided into two sub-regional groups:

• Group I (Mercosur plus Chile): Argentina, Brazil, Chile, Paraguay, Uruguay
• Group II (Andean countries): Bolivia, Colombia, Ecuador, Peru, and Venezuela

The ICP for South America is distinguished by a number of unique features.  First, the program is anchored on the countries’ Consumer Price Index (CPI) programs. The program benefits from the fact that all participating countries had cooperated in a joint effort to produce a harmonized CPI. The work on the Harmonized Index gave the participating countries a head start in the choice of comparable consumption goods and services.

 

Second, two reputable institutions – the Statistics Division of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) and Statistics Canada – jointly coordinate the regional program. Third, nine of the ten countries speak the same language (Spanish) and their Portuguese-speaking Brazilian colleagues are conversant in Spanish.

 

A third group covering five Central American countries, including El Salvador, Guatemala, Panama, Honduras, Costa Rica, plus the Dominican Republic, are involved in a reduced ICP survey covering a limited number of household consumption items. 

 

PPP Data:  

1.Household Consumption Preliminary PPP data for 10 countries were released in June 2006:

• Reports in English, Spanish and Portuguese
• Press Release from the ICP Global Office, World Bank
• The IMF praises ICP
• Press Coverage

2. More detailed consumption data were released in October 2006. 

• Data on Price Level Indices and PPPs in English and Spanish
• Press release in English and Spanish

Information: For more information, visit the ECLACwebsite.

 

Countries: View the List of Participating Countries

 

Contacts:

ICP-Latin America:

Louis Marc Ducharme - Email: louismarc.ducharme@statcan.ca

Heber Camelo – Email: hcamelo@eclac.cl

 

Central American reduced-scale program:

Hubert Escaith – Email: hescaith@cepal.org