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The Global Core List – Availability and Importance

The final version (Version 5.2) of the Global Core List (GCL) of 601 items to be priced for the main survey on household consumption was sent to all the regions in August 2010. It was developed through a participatory and iterative process which makes it a truly global list in that it reflects comments and proposals provided by the regional and national coordinators from all the regions as well as OECD and Eurostat.

The participating countries are recommended to price GCL items that are available and deemed important. In this way, although the entire GCL contains 601 items, the extra load per country is expected to be as low as 100-300 items. More importantly, when the GCL and the regional items are properly amalgamated, this strengthens the intra-regional links. Regional PPPs based on both the GCL and regional lists will be used in computing global PPPs, and regional fixity will be imposed on the globally-computed PPPs.

The GCL is available in 4 languages (Arabic, English, French, and Spanish), both in EXCEL SPD form and in WORD printable format. To help the countries identify the various products, three bi-lingual catalogues (English-Arabic; English-French; English-Spanish) were prepared, in which each item is illustrated with a colour picture.

If product availability is accounted for through countries price report, an important product in a country is one that has a large expenditure share within the basic heading to which it belongs. An important product may have a very small expenditure share within Household Final Consumption Expenditure (HFCE) as a whole but still be important within its basic heading.

For example, in many countries few people buy wine but this does not mean that all the products specified under the Wine basic heading are LESS IMPORTANT. Within the Wine basic heading there may be one or two types of wine that are best-sellers and the wine merchant can almost certainly identify them. These particular wines are IMPORTANT within the basic heading even though their expenditure share may be very small in total HFCE.

ICP countries are requested to periodically report on availability and importance of products included in their regional product list and more specifically the Global Core List in order to improve the computation of Purchasing Power Parities for the 2011 Round of the International Comparison Program.

 




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