Of interest to travelers, this index begun by The Economist magazine in 1986 as a guide to relative price levels in general around the world, has been made more user friendly. The index assumes that as a standardised mostly local product with reasonable components of labor and other overheads, a McDonalds Big Mac hamburger should serve as a guide as to how relatively expensive or cheap things should be in general.
The chart is largely as you would expect, although there are a few surprises. Last month a Big Mac on average cost $4.37 in the US. Converted, the price in NZ was about the same, in Canada a quarter more, and in Mexico a third less. website
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