For the fourth year in a row, Australia has ranked as the world’s most expensive country in Deutsche Bank’s ‘Mapping the World’s Prices’ report, but New Zealand is hot on its tail.
The fourth annual survey of global prices found that New Zealand comes in second on the purchasing power parity (PPP) index, meaning that one USD has the same purchasing power as $1.11 (NZD). The United Kingdom rated the third most expensive country.
Deutsche Bank’s ‘Mapping the World’s Prices’ overall rankings
These graphs compiled by Sydney Morning Herald from the report, detail where exactly New Zealand stands compared to the rest of the world when it comes to everyday expenses.
Deutsche Bank compiles its lists using both internet prices and secondary sources. The report explains that its research measures prices but not affordability “in comparison to local purchasing power”.
View the full Deutsche Bank PPP report here.