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2008-04-01

The International Comparison Program (commonly known as the ICP) is a worldwide statistical initiative to collect comparative price data and estimate purchasing power parities (PPPs) of the world’s principle economies. Using PPPs instead of market exchange rates to convert currencies makes it possible to compare the output of economies and the welfare of their inhabitants in real terms - that is, controlling for differences in price levels.

The ICP data collection was conducted in 100 economies, divided into five regions, and when combined with a Eurostat-OECD PPP program, brings the total to 146 economies.

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