Economist's Big Mac Index

The Economist's Big Mac Index compares the purchasing power parity of countries in terms of the cost of a Big Mac hamburger. This was felt to be a good measure of the prices of a basket of commodities in the local economy including labor, rent, meat, bread, cardboard, advertising, lettuce, etc. The purchasing power of a country is measured in how many Big Macs could be bought in that country with $50 USD.