For all its weaknesses, the Big Mac Index has caught on even among economists as a shorthanded way of looking at PPP across the world's economies. The table below -- reproduced from the Economist -- shows by how much, in Big Mac PPP terms, selected currencies were over- or undervalued at the end of January.
Aug 20th 2009
How many minutes to earn the price of a Big Mac?
THE size of your pay packet may be important, but so is its purchasing power. Helpfully, a UBS report published this week offers a handy guide to how long it takes a worker on the average net wage to earn the price of a Big Mac in 73 cities. Fast-food junkies are best off in Chicago, Toronto and Tokyo, where it takes a mere 12 minutes at work to afford a Big Mac. By contrast, employees must toil for over two hours to earn enough for a burger fix in Mexico City, Jakarta and Nairobi.