Wrong. More evidence of Snopes incompetence and bias. The Big Mac index is based on the presumption that Big Macs cost the same to produce in different countr

Wrong. More evidence of Snopes incompetence and bias. The Big Mac index is based on the presumption that Big Macs cost the same to produce in different countries. Using that same currency index as a measure of Big Mac cost difference is, by definition, wrong, and a gross misinterpretation of circular logic. If you don't consider a Big Mac to be an equivalent basket of goods (including labor price) then the whole concept falls apart and is meaningless. What everyone ITT is comparing is actual purchasing power to exchange rate. The whole discussion of Big Macs having different embedded costs per country is a discussion on why the Big Mac index is flawed.