The price of a Big Mac is used to gauge countries’ purchase power parity due to its widespread distribution. (Courtesy of HelloSafe)

The price of a Big Mac is used to gauge countries’ purchase power parity due to its widespread distribution. (Courtesy of HelloSafe)

Inflation driving up the cost of Big Macs across the globe

Burger index used as gauge of countries’ purchase power parity

With inflation driving up food prices around the globe, the cost of a Big Mac is also on the rise.

HelloSafe, a comparison platform financed by a venture capital firm, looked at the price of Big Macs across the globe as a gauge of rising inflation.

Its data analysts are predicting the price of a Big Mac will go up 18.5 per cent in less than a year, hitting limits never crossed before.

First mentioned in 1986, the Big Mac Index is a symbol of the globalization of lifestyles as the burger can be found in almost every capital in the world. The goal behind it is to give an idea of each country’s purchase power parity due to the burger’s wide distribution.

The most recent survey was conducted in January, just before the start of the war in Ukraine, which had an impact on prices. While Russia was the cheapest country to buy a Big Mac in (at $2.21), the corporation closed its 850 Russian locations in March and confirmed on May 16 that it will be permanently leaving the country.

The other two countries with the cheapest Big Macs are Indonesia ($2.99) and Turkey ($2.36).

On the other side of the spectrum, the three most expensive countries to buy a Big Mac in are Switzerland ($8.90), Norway ($8.10) and the U.S. ($7.40).

Canada ranked seventh overall at $6.70.

Visit HelloSafe Canada for more tools.

ALSO READ: McDonald’s to sell Russia business, exit country


 

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