The theory of purchasing-power parity (PPP) implies that high-inflation currenciesshould depreciate, relative to harder monies.

根据购买力平价理论推导，高通胀货币应当对低通胀者贬值。

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PPP, rather than market exchange rates, is regarded as a better measure of the relative cost of living, since it is based on goods and services households can buy with their domestic currency.

购买力平价（PPP）――而非市场汇率――被视为衡量相对生活成本的更好尺度，因为它的衡量基础是各个家庭用本国货币所能购买的商品和服务。

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Relative purchasing power parity holds better than PPP itself, and holds relatively well in the long run, although it is unlikely to precisely hold in any one period.

相对购买力平价成立优于PPP本身，从长远来看持有相对较好，虽然这是不可能精确地保持在任何一个时期。

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The Big Mac Index uses Purchasing Power Parity (PPP) in comparing the price of the ubiquitous Big Mac across countries relative to its price in the USA. PPP refers to the idea that exchange rates across two countries should be equal to the relative price of a basket of goods and services in both countries.

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For those that don't know, PPP is a way of measuring the relative value of currencies, accounting for things like cost of living.

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