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World Bank to publish Purchasing Power Parities in March 2014

Grant Cameron's picture
In June 2013 we announced the upcoming release of the results from the 2011 round of the International Comparison Program (ICP). The results will include ICP 2011 benchmark PPPs and related volume measures for 199 participating countries/economies.

Given the complex nature of the ICP and the fact that it has become the largest worldwide statistical operation, the program decided that the December release will be postponed until March 2014, in an effort to produce the utmost quality results. This three-month delay is minor considering the five years of work already put into the ICP 2011 round, and will allow the ICP stakeholders to further ascertain the reliability and credibility of the results.

The program is working with the active participation of all countries/economies involved to provide users with results and underlying methodologies in the most transparent manner. The ICP wants to ensure that the impact of the results is well understood, and will therefore continue its efforts to produce analytical findings along with the results. Additionally, the ICP strives to focus on the technical dimensions involved and is taking all steps necessary to ensure that the new linking method introduced in the ICP 2011 round is truly robust.

The March 2014 release of the results will coincide with the 45th session of the United Nations Statistical Commission, which will be held March 4-7, 2014. The final report of the ICP 2011 will be released in April 2014, and will provide an in-depth analysis of volume and per capita measures and include information such as the country survey coverage.

It is worth noting that the PPP time series published in the World Development Indicators (WDI) will first be updated based on the new ICP 2011 benchmark data and later with the application of an improved extrapolation method. Further information explaining how the ICP 2011 data will affect the WDI will be explained via a blog in late January 2014. Stay tuned and enjoy the holidays!