The Real Hamburger index...

[Boerseun]

The Hamburger index have been going for years - but what does it mean? What don't they take into account? So let's do a new one, including the stuff that matters!

What do you pay for (in US dollars)
1) a Big Mac,
2) a pint of beer (bar price),
3) a box of cigarettes (Camel Filter),
4) a litre of petrol (or a gallon of gasoline, for all you non-metric ignorant Americans - just indicate which)
5) Finally, in which country do you live?

Here's mine:
1) Big Mac - $2.92
2) Beer, bar price - $1.42
3) A Box of Camel Filter - $2.83
4) Petrol - $0.98/litre (unleaded)
5) South Africa

(The above was calculated at the exchange rate as at 01/05/2006, R5.97/US$1.00)

I want to see if there's big deviations in energy costs as compared to 'legal' drugs (big tax spinners) between the first and third world, and countries in general!

Enjoy!

[Buffy]

Its the "Big Mac Index" which my favorite magazine, The Economist, invented and regularly updates. Here's the latest one (which true to the claims of most economists shows that the Chinese Yuan is the *most* undervalued major currency) and here's an explanation:

Originally Posted by The Economist 4/10/97

The Big Mac index is based upon the theory of purchasing-power parity (PPP)—the notion that a dollar should buy the same amount in all countries. In the long run, argue PPP fans, currencies should move towards the rate which equalises the prices of an identical basket of goods in each country. Our “basket” is a McDonald’s Big Mac, which is now produced in over 100 countries. The Big Mac PPP is the exchange rate that would leave hamburgers costing the same in America as abroad. Comparing actual exchange rates with PPP provides one indication of whether a currency is under-or over-valued.

The Economist argues that it has proven to be even more accurate that the abitragers on the currency exchanges....

Would you like to supersize that?
Buffy

[Celeste]

Originally Posted by Boerseun

Here's mine:
1) Big Mac - $2.92
2) Beer, bar price - $1.42
3) A Box of Camel Filter - $2.83
4) Petrol - $0.98/litre (unleaded)
5) South Africa

1) Big Mac - $3.19
2) Beer, bar price - $3.00
3) A Box of Camel Filters - $4.58
4) Petrol - $2.79/gallon (unleaded)
5) USA

[Buffy]

I'll take a shot at filling out your basket B in US denominated values, but beware that one of the reasons that The Economist chose the Big Mac is that its not hit with "coercive policy" taxes like gas and cigarettes are...

Too expensive to smoke or drive,
Buffy

[Buffy]

Oh and that last index has a Big Mac going for $1.30 in Beijing...

Twoallbeefpattiesspecial saucelettucecheesepicklesonionsonasesameseedbun,
Buffy

[Boerseun]

Originally Posted by Buffy

I'll take a shot at filling out your basket B in US denominated values, but beware that one of the reasons that The Economist chose the Big Mac is that its not hit with "coercive policy" taxes like gas and cigarettes are...

Too expensive to smoke or drive,
Buffy

Exactly - but that is why this is an interesting comparison.
We've got the Bic Mac in, without all the penalty taxes that goes into cigarettes and beer, but then we also have cigs and booze on the list! Which country's the best (and cheapest) for a party? Now that's science I can relate to!

[Boerseun]

Another good thing about including the Big Mac is that is also a very good indicator of wages, being a set percentage of the retail price for generally unskilled labour.

As cheap as it gets!

[Tormod]

Originally Posted by Boerseun

What do you pay for (in US dollars)
1) a Big Mac,
2) a pint of beer (bar price),
3) a box of cigarettes (Camel Filter),
4) a litre of petrol (or a gallon of gasoline, for all you non-metric ignorant Americans - just indicate which)
5) Finally, in which country do you live?

Here's mine:
1) Big Mac - $2.92
2) Beer, bar price - $1.42
3) A Box of Camel Filter - $2.83
4) Petrol - $0.98/litre (unleaded)
5) South Africa

Exchange rate: 1USD = 6,3NOK

1) Big Mac - $5
2) Beer, bar price: $8
3) A box of Camel Filter - $20 (guesswork)
4) Petrol - $1.90/litre (unleaded)
5) Norway

[Jay-qu]

1) Big Mac - $3
2) Beer, pint, bar price - $4 (avg. I know a place where its about a $1 )
3) Camel Filters - wouldnt have a clue, dont smoke
4) Petrol - $0.98/litre (unleaded)
5) Australia

at exchange rate of $1USD = $1.32AUD

[Racoon]

Originally Posted by Buffy

one of the reasons that The Economist chose the Big Mac is that its not hit with "coercive policy" taxes like gas and cigarettes are...

There should be a Rainforest Tax.

Who eats at McDonalds?

Gas >>> $ 2.91 and rising

Portland, OregOn