In this data visualization I look at the countries with the most expensive Big Macs. This data comes from the Big Mac Index, recorded multiple times a year since 1986.
The Big Mac Index was created by The Economist in 1986 as a way to measure the purchasing power parity (PPP) between different currencies. The index is based on the theory of PPP, which states that in a free market, the exchange rate between two currencies should equal the ratio of the prices of a basket of goods in each country. The Big Mac Index uses the price of a Big Mac as its basket of goods, and compares the price of a Big Mac in different countries to see if their currencies are under- or over-valued.
The Big Mac Index has been criticized for its simplistic approach, and for not taking into account other factors such as inflation. However, it remains a popular way to measure PPP, and has been used by the IMF, World Bank, and other organizations.
www.economist.com/big-mac-index
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15 мар 2022
