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Worldwide Big Mac Price and Currency Valuation Data
Finance & Banking Analytics
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About
The data allows for the comparison of exchange rates by calculating the theoretical Big Mac PPP exchange rate and contrasting it with the actual market exchange rate. If the calculated PPP rate is lower than the actual rate, the currency is deemed under-valued relative to the comparison currency, typically the US dollar. Source data for this index is gathered from several places, including Big Mac prices reported by McDonald’s and various global reports, exchange rates from Thomson Reuters, and GDP and population statistics from Eurostat and IMF reports.
Columns
- date: The date when the observation was recorded.
- iso_a3: The standard three-character ISO 3166-1 country code.
- currency_code: The standard three-character ISO 4217 currency code.
- name: The country name corresponding to the ISO code.
- local_price: The actual price of a Big Mac hamburger when priced in the local currency.
- dollar_ex: Represents the local currency units required to equal one US dollar.
- dollar_price: The Big Mac price converted into US dollars using the market exchange rate.
- USD_raw: The raw Big Mac index value, calculated relative to the US dollar.
- EUR_raw: The raw index value, calculated relative to the Euro.
- GBP_raw: The raw index value, calculated relative to the British pound.
- JPY_raw: The raw index value, calculated relative to the Japanese yen.
- CNY_raw: The raw index value, calculated relative to the Chinese yuan.
- GDP_dollar: The GDP per person for the country, expressed in dollars.
- adj_price: The GDP-adjusted price of a Big Mac, converted into dollars.
- USD_adjusted: The adjusted index value, relative to the US dollar.
- EUR_adjusted: The adjusted index value, relative to the Euro.
- GBP_adjusted: The adjusted index value, relative to the British pound.
- JPY_adjusted: The adjusted index value, relative to the Japanese yen.
- CNY_adjusted: The adjusted index value, relative to the Chinese yuan.
Distribution
The data is typically structured in a CSV file format and consists of 19 distinct columns. There are 1,386 valid records available in the main data set. Note that fields requiring GDP data, such as
GDP_dollar and all adjusted index columns, have a significant portion of missing values, being available for only 51% of the total records (702 valid entries). The expected update frequency for this specific file is listed as never.Usage
The dataset is ideally suited for economic modelling, financial research into global currency valuation, and educational purposes related to macroeconomics. Specific uses include analysing whether a currency is over or under-valued based on the PPP theory, and performing comparative studies on how long an individual in different countries must work to afford a Big Mac.
Coverage
The observations cover a period spanning over two decades, starting from 1 April 2000 and running through to 1 July 2020. The geographical scope encompasses approximately 57 unique countries worldwide. While most exchange rate and price data points are consistently covered, data related to GDP per person and the resulting GDP-adjusted index values are only present for about half of the total records.
License
CC0: Public Domain
Who Can Use It
Intended users include financial market analysts seeking indicators of currency misalignment, academic researchers performing cross-country economic comparisons, and students learning about international economics and purchasing power theory. Regulators or policy advisors may also use this data for quick, informal assessments of economic parity.
Dataset Name Suggestions
- The Economist's Big Mac Index Data
- Global Purchasing Power Parity (PPP) Indicator
- Worldwide Big Mac Price and Currency Valuation Data
Attributes
Original Data Source: Worldwide Big Mac Price and Currency Valuation Data
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