Purchasing power parity - Wikipedia
https://en.wikipedia.org/wiki/Purchasing_power_parity
Purchasing power parity (PPP) is the measurement of prices in different countries that uses the prices of specific goods to compare the absolute purchasing power of the countries' currencies, and, to some extent, their people's living standards. In many cases, PPP produces an inflation rate equal to the price of the basket of goods at one location divided by the price of the basket of goods at a different location. The PPP inflation and exchange rate may differ from the market ex…
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