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This paper makes new estimates of global poverty and inequality in 2012 using both ‘old’, 2005 and ‘new’, 2011 purchasing power parity (PPP) price data in order to assess systematically what difference PPP data makes to the estimates. The methodology for the 2011 PPP data is thought to be superior. However, contentions remain. We discuss the PPPs and justify the use of 2011 PPP data to estimate global poverty and inequality, at least for comparison purposes.