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New Method to Compute Global PPPs

Learning lessons from the previous ICP round, the ICP 2011 will depart from the ring method that was used to link PPPs from the OECD-Eurostat programme with ICP regional PPPs into global PPPs. A core list approach will be implemented instead. A core list of products will be included in each regional list as well as in the lists for OECD-Eurostat surveys. This will facilitate the process of linking the regions and the OECD-Eurostat programme to the world. The proposed process for building the core list and the regional lists is iterative and involves close collaboration between the Global Office, regional coordinators, OECD-Eurostat, and the countries. There will be a core list for each type of price data collection. As was already recommended and implemented in 2005, the Structured Product Description (SPD) approach will be used to describe the products to be included in the lists.

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