it was invented by the economist to make the exchange rate theory more digestible.
it basically compares all the big mac prices in the world.
we're one of the LOWEST! almost equal with sri lanka and pakistan, and slightly higher than thailand, malaysia, china. highest? switzerland and denmark.
a few years back, the same group came up with the tall latte index...
this isn't updated. anyway, from what i know, we're the 2nd lowest IN THE WORLD, next to new zealand. highest? russia, uk, switzerland, france.
now, THEY say, the ipod index is more accurate as it pretty much comes from one place (china!).
eenteresting!
1 comment:
very eeenteresting! when i travel, i usually check the price of a can/bottle of coke to see if the city i'm in is expensive or not :)
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