International Cost of Living Comparison

 
 
Methodology:   The cost of living is obtained from the Interbank exchange rates [a] and the IMF PPP exchange rates [d]. While the IMF PPP exchange rates are based on the composition of the GDP, the PPP rate of the consumption expenditure is within 3% of the PPP rate of the GDP for the countries here outlined [p].
 
    
 

International Average Cost of Living Comparison (US=1.000).

Country   2005   2004   2003   2002   2001  
 
Switzerland   1.505   1.522   1.421   1.257   1.166  
Norway   1.487   1.366   1.254   1.105   1.010  
Sweden   1.293   1.305   1.190   0.982   0.920  
UK   1.240   1.240   1.090   0.989   0.932  
Netherlands   1.224   1.219   1.108   0.913   0.847  
Finland   1.184   1.194   1.110   0.955   0.915  
Ireland   1.177   1.160   1.067   0.888   0.817  
France   1.161   1.158   1.055   0.886   0.834  
Japan   1.150   1.210   1.170   1.130   1.200  
Belgium   1.132   1.132   1.032   0.863   0.813  
Germany   1.130   1.133   1.040   0.878   0.829  
Austria   1.095   1.097   1.002   0.843   0.796  
New Zealand   1.069   1.001   0.876   0.710   0.651  
Australia   1.062   1.021   0.891   0.731   0.688  
Italy   1.042   1.049   0.952   0.789   0.736  
Spain   1.019   1.000   0.897   0.734   0.678  
Canada   1.006   0.935   0.866   0.761   0.773  
U.S.   1.000   1.000   1.000   1.000   1.000  
Singapore   0.933   0.917   0.879   0.867   0.881  
Greece   0.894   0.881   0.792   0.651   0.604  
Portugal   0.890   0.881   0.796   0.659   0.604  
Israel   0.810   0.819   0.825   0.811   0.884  
Korea   0.780   0.720   0.690   0.660   0.630  
Hong Kong   0.751   0.765   0.810   0.881   0.929  
Mexico   0.640   0.610   0.631   0.692   0.690  
Hungary   0.635   0.622   0.549   0.456   0.382  
Czech Republic   0.622   0.573   0.513   0.442   0.371  
Poland   0.604   0.536   0.494   0.477   0.473  
Taiwan   0.554   0.535   0.524   0.535   0.562  
Slovakia   0.543   0.514   0.436   0.340   0.309  
Romania   0.513   0.432   0.378   0.315   0.289  
Lithuania   0.505   0.500   0.450   0.381   0.352  
Brazil   0.493   0.395   0.362   0.346   0.387  
Russia   0.480   0.400   0.320   0.280   0.270  
Peru   0.459   0.448   0.438   0.432   0.425  
Latvia   0.444   0.458   0.428   0.389   0.381  
Thailand   0.319   0.311   0.299   0.289   0.282  
Philippines   0.226   0.218   0.221   0.229   0.224  
China   0.217   0.215   0.214   0.213   0.216  

 

References

 
[a]   Interbank rate.
[d]   World Economic Outlook Database, International Monetary Fund, PPP U.S. dollars exchange rate.
[p]   Penn World Table. Purchasing power parity rates of consumption expenditure, government expenditure, and investment for 188 countries (1950-2004).
[q]   U.S. Department of State. Quarterly report indexes of living costs abroad, housing allowances, hardship differentials, and danger pay allowances. Price ratios weighted by the expenditure pattern of American employees living abroad.