The Big Mac Index is applied by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries. It is an index that keeps track of hamburger prices around the world and meausres the prices of a Big Mac burger in McDonalds restaurants in different countries.
Norway at top of 5 places with the overall highest Bic Mac prices
This year's index showed that Norway has the most expensive Big Mac in the world. Norway's close neighbor, Sweeden comes in the second place in the list. The top 5 most expensive countries are all European:
Norway – 7.88 dollars for a Big Mac
Sweden – 6.37 dollars
Switzerland – 6.36 dollars
Denmark – 5.95 dollars
Euro Area average – 5.34 dollars
The average price for a Big Mac in the US is 3.57 dollars. For the same price that you get 1 Big Mac in Norway you get 2 Big Macs in the US. Norway had been listed at top in the previous indexes, too.