| Russia - Big Mac menu - price, July 2023 | |
|---|---|
| RUB | 225.000 |
| USD | 2.442 |
| EUR | 2.218 |
The price is USD. The average price for all countries is 8.34 USD. The database includes 45 countries.
(USD / 1 menu,
1. Switzerland
2. Netherlands
3. Finland
4. Norway
5. Belgium
6. Germany
7. Austria
8. Canada
9. France
10. Sweden
11. Greece
12. Italy
13. Ireland
14. Australia
15. New Zealand
16. Spain
17. USA
18. UK
19. Bulgaria
20. Peru
21. Serbia
22. Saudi Arabia
23. Slovakia
24. Czechia
25. Croatia
26. Poland
27. Chile
28. Portugal
29. Colombia
30. Hungary
31. Romania
32. Mexico
33. Japan
34. Morocco
35. South Korea
36. Turkey
37. India
38. South Africa
39. Ukraine
40. Philippines
41. Paraguay
42. Malaysia
43. Indonesia
44. Argentina
16.34
14.64
13.71
12.93
12.22
12.10
11.67
10.62
10.51
10.50
10.13
9.91
9.80
9.52
9.32
9.14
8.99
8.99
8.95
8.86
8.75
8.53
8.37
8.29
8.26
8.12
7.78
7.71
7.32
6.88
6.78
6.42
6.32
5.98
5.93
5.30
5.22
5.05
5.04
4.82
4.75
4.43
4.08
3.28
3.21
4.1
8.2
12.3
16.34
Definition: The Big Mac menu price refers to the package price of a Big Mac burger, French fries, and a co*ke.
The Big Mac Index is a fun yet informative tool used to gauge the purchasing power parity (PPP) between different currencies. It's a concept introduced by The Economist in the mid-1980s to assess whether currencies are under- or overvalued based on the price of a Big Mac across various countries. Now, diving into the details of your specific data:
Indicator: Big Mac Menu Price (July 2023)
-
Country Rankings by Big Mac Menu Price (in USD)
- Switzerland: $16.34
- Netherlands: $14.64
- Finland: $13.71
- Norway: $12.93
- Belgium: $12.22
- Germany: $12.10
- Austria: $11.67
- Canada: $10.62
- France: $10.51
- Sweden: $10.50 ... and so forth for the remaining 35 countries.
-
Specific Price for Russia: RUB225.00, equivalent to USD2.442 or EUR2.218 (as of July 2023).
Analysis:
- Average Price Across All 45 Countries: $8.34 USD for a Big Mac menu.
- Implication: Comparing Russia's Big Mac menu price (USD2.442) with the average, it seems relatively cheaper, indicating potential currency undervaluation concerning the USD.
- Ranking Context: Russia's position isn't among the top highest-priced countries, suggesting a comparatively lower cost for a Big Mac, fries, and a co*ke.
Interpretation:
- Purchasing Power Parity (PPP): Lower Big Mac prices might imply a weaker currency relative to the US dollar or the Euro in Russia compared to some other nations. However, this index doesn't solely reflect economic strength; it's more about currency valuation.
Definitions and Sources:
- Big Mac Menu Price: Includes the cost of a Big Mac burger, French fries, and a co*ke.
- Sources: The Economist's Big Mac Index provides this data, which evaluates the cost of a standard menu item in various countries to analyze exchange rates and currency valuation.
Takeaways:
- The Big Mac Index provides a simplified view of currency valuation.
- Russia's relatively lower price may suggest currency undervaluation compared to the USD or EUR, according to this index.
This index offers a fascinating snapshot of global economics, offering insights into currency valuation that even non-experts find engaging.
