I thought it would be interesting to look at The Economists Big Mac Index and see how many times we saw more than 26% price increase in the local currency. From 1987 to 2012 this happens more than 100 times.
One Year Hyperinfltion
USA: 1.6(1987), 2.39(1988) 49.38% up
Yugoslavia: 2300(1988), 7000(1989) 204.35% up
Yugoslavia: 16(1990), 32(1991) 100.00% up
Russia: 3.75(1990), 10(1991) 166.67% up
Singapore: 2.8(1991), 4.75(1992) 69.64% up
Russia: 10(1991), 58(1992) 480.00% up
Brazil: 3800(1992), 77000(1993) 1926.32% up
China: 6.3(1992), 8.5(1993) 34.92% up
Russia: 58(1992), 780(1993) 1244.83% up
Russia: 780(1993), 2900(1994) 271.79% up
Russia: 2900(1994), 8100(1995) 179.31% up
Mexico: 8.1(1994), 10.9(1995) 34.57% up
Mexico: 10.9(1995), 14.9(1996) 36.70% up
Chile: 950(1996), 1200(1997) 26.32% up
Hungary: 214(1996), 271(1997) 26.64% up
Indonesia: 9900(1998), 14500(1999) 46.46% up
Turkey: 649152.9(2000), 1577827.5(2001) 143.06% up
Turkey: 1577827.5(2001), 4000000(2002) 153.51% up
Colombia: 4200.02(2001), 5700(2002) 35.71% up
Brazil: 3.6(2002), 4.55(2003) 26.39% up
Argentina: 2.5(2002), 4.1(2003) 64.00% up
Venezuela: 2500(2002), 3700(2003) 48.00% up
South Africa: 9.7(2002), 13.95(2003) 43.81% up
Uruguay: 42.3(2006), 55.0(2007) 30.02% up
Czech Republic: 52.1(2007), 66.1(2008) 26.87% up
Costa Rica: 1.130(2007), 1800(2008) 159192.04% up
Slovakia: 57.98(2007), 77.00(2008) 32.80% up
Argentina: 8.25(2007), 11.00(2008) 33.33% up
Egypt: 9.09(2007), 13.0(2008) 43.01% up
Colombia: 6.900(2007), 7000(2008) 101349.28% up
Iceland: 469.00(2008), 640(2009) 36.46% up
Chile: 1.550(2008), 1750(2009) 112803.23% up
Ukraine: 11.00(2008), 14(2009) 27.27% up
Indonesia: 18.700(2008), 20900(2009) 111664.71% up
Pakistan: 140.00(2008), 190(2009) 35.71% up
South Korea: 3.200(2008), 3400(2009) 106150.00% up
Uruguay: 61(2009), 79.0(2010) 29.51% up
Argentina: 14.0(2010), 20.0(2011) 42.86% up
Pakistan: 205(2011), 260(2012) 26.83% up
Two Years of Hyperinflation
Russia: 3.75(1990), 10(1991) 166.67% up, 58(1992) 480.00% up
Russia: 10(1991), 58(1992) 480.00% up, 780(1993) 1244.83% up
Russia: 58(1992), 780(1993) 1244.83% up, 2900(1994) 271.79% up
Russia: 780(1993), 2900(1994) 271.79% up, 8100(1995) 179.31% up
Mexico: 8.1(1994), 10.9(1995) 34.57% up, 14.9(1996) 36.70% up
Turkey: 649152.9(2000), 1577827.5(2001) 143.06% up, 4000000(2002) 153.51% up
I need a graph of when these occurred.
ReplyDeleteDid these countries all pass 26% and it didn't matter because so many others did?
Not sure about the accuracy or how to interpret these numbers. If you look at this row (Sweden: 4.17(2005), 33.00(2006) 691.37% up), the first number might have been the Big Mac price in Sweden in dollars and the second in local currency, making the comparison and pereantage totally wrong. There is no way the 691% increase is correct. The same goes for a lot of others countries.
ReplyDeleteThanks. The data I was working from is not the same format for 2004 and 2005 and does not include local currency prices for these years. So my software was making bogus results. I have now removed those. I think what is left is correct. Thanks for pointing this out.
ReplyDeleteThanks
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