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Cost of living around the world
Feedback Action, Intellectual Capital January 18, 2015, 0 Comment 13Although the methodology and data sources can be questioned, it is interesting the comparative view the map gives.
For countries with smaller inequalities, the index is more reliable. For developing and emerging economies, the index loses its accuracy. However, still an interesting point of view.
An interesting map from MoveHub reveals living costs around the world.
The Consumer Price Index takes into account the cost of groceries, transportation, restaurants and utilities, each containing a number of variables. The cost of groceries, for instance, is made up of the price for meat, bread, rice, eggs, fruits, vegetables and alcohol. The transportation cost includes one-way tickets, monthly passes, taxi fares, petrol prices as well as the prices of a Volkswagen Golf. The restaurant costs comprise of prices for meals in expensive, mid-range and inexpensive restaurants, as well as the prices for coffee products, alcohol and water in restaurants. The utilities costs are determined by the prices for electricity, heating, water and Internet, among the few.
The data was collected by Numbeo, the world’s largest database of user-contributed data on costs and prices around the world.
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