4 ms·
Many people have stopped living on less than $2 a day in the past decades, according to the article. But does this take inflation into account? Surely the value
by geraltofrivia 7y ago
Many people have stopped living on less than $2 a day in the past decades, according to the article. But does this take inflation into account? Surely the value of $2 has also dropped in these decades?
- dchest 7y agoIt does. From the linked World Bank article: "The Bank uses an updated international poverty line of US $1.90 a day, which incorporates new information on differences in the cost of living across countries (the PPP exchange rates). The new line preserves the real purchasing power of the previous line (of $1.25 a day in 2005 prices) in the world’s poorest countries."