Definition: Structured product description

Category: Purchasing power parities

SPDs are designed to standardise the product specifications for different types of products so that all product specifications for a particular type of product are defined in the same way and specify the same parameters. Standardising product specifications helps to improve their precision making it easier for price collectors to determine whether or not product in an outlet matches the product specified. Also, by identifying the parameters that need to be specified for different products, SPDs provide a framework within which countries can present their proposals for new products. http://ec.europa.eu/eurostat/product?code=KS-RA-12-023&mode=view