Objective: To develop a web-based tool to automate the adjustment of estimates of costs drawn from previously published or unpublished studies to a specified target currency and price year. Methods: A web-based tool was programmed using C#, utilising GDP deflator index values and Purchasing Power Parities conversion rates produced by the International Monetary Fund and the Organisation for Economic Co-operation and Development. Results: Version 1.0 is available at http://eppi.ioe.ac.uk/costconversion/default.aspx Conclusions: The tool can be used as a first-line approach to cost adjustment in non-healthcare applications and as an optional approach in healthcare applications when use of more sophisticated methods is not feasible.
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Shemilt et al. (2010) studied this question.