"Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amounts of goods and services in the domestic market as U.S. dollar would buy in the United States. *"
We provide Purchasing Power Parity data for most countries in our API, with their latest year of data. Usually that would mean in 2023, we provide for 2022.
The Purchasing Power Parity data is not real-time, so it is not recommended to use for cases that would require real-time accuracy. It is however, generally, good for adjusting online product prices to local purchasing power.
A value is provided, which is the local currency conversion factor, and to convert it back to USD (which is the purchasing power parity base currency), you can use the conversion_factor, by multiplying with your USD price. The conversion_factor uses real-time (updated every 5 minute) currency exchange rates, to adjust the value.