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3. PPP conversion factor, households and NPISHs Final consumption expenditure (LCU per international $)

PPP conversion factor, households and NPISHs Final consumption expenditure (LCU per international $)

The purchasing power parity (PPP) conversion factor is a currency conversion factor and a spatial price deflator. They convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of gross domestic product (GDP) and its expenditure components. This conversion factor is for households and NPISHs Final consumption expenditure and the base currency is the US dollar.