The 2020 Philippine Classification of Individual Consumption According to Purpose (PCOICOP) is a standard classification of individual consumption expenditures patterned after the 2018 Classification of Individual Consumption According to Purpose (COICOP) developed by the United Nations Statistics Division (UNSD) in 2018.

The PCOICOP is used to identify individual consumption expenditures incurred by three institutional sectors of the 2008 System of National Accounts (SNA), namely: households, non-profit institutions serving households (NPISHs), and general government.

The PCOICOP serves as: 1) framework for the aggregation and integration of the Household Final Consumption Expenditures (HFCE) in the Philippine SNA; 2) input in the formulation of basket of goods for the Consumer Price Index (CPI); 3) guide in the classification of goods and services     for the Family Income and Expenditure Survey (FIES); and 4) tool in the analysis of individual consumption expenditures.

As an integral part of the SNA, the PCOICOP is intended also for international comparisons of Gross Domestic Product and its component expenditures through purchasing power parities, and statistics relating to culture, sports, food, health, and tourism. Read more...