Purchasing power parity

From CharityScorecard

Purchasing power parity (PPP) 

A hypothetical exchange rate or conversion factor between currencies in different countries, used for adjusting GDP per capita figures to account for differences in cost of living. Local prices are expressed in Int$ after doing a purchasing power parity converstion. See also: http://en.wikipedia.org/wiki/Purchasing_power_parity

• See also: World Bank list of PPP conversion factors by country