Wednesday, 12 March 2014

Analysing cost of living

I have always found cost of living interesting. Especially because the unions in my country often use increased cost of living as justification for higher wages, without taking into account higher wages drives up inflation, which can further drive up cost of living.

A recent report by the Economist Intelligence Unit has suggested that the cost of living has increased greatly across Asian cities, especially when compared to western cities.

New Cost of Living Survey

Data can be obtained from the survey here (you need to register first)

EIU Survey Results

Pick any two cities (such as Waikiki and Las Vegas)

Choose 10 staple items that you buy from the supermarket. Find their price and determine which city has a higher cost of living.

Does a higher cost of living mean that someone in that city should be paid a higher rate?

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