Can You Tell Whether a Country Is Lying About Inflation by the Price of its Big Mac?

The Economist always publishes great analyses of worldwide trends, even if it famously never puts bylines to its stories. It published a fascinating one recently--the McFlation Index, a process by which it takes the increase in price of a Big Mac in a country and matches it by said country's "official" inflation rate to see if its rulers are cooking the books.

Can't show you the graph here because, well, we're not the Economist, but the article also deserves a read. Here in the U.S., our government hasn't really lied to us on inflation--but if you're in Argentina, let's just say the Kirchner administration has done a couple too many cabesazos on the soccer pitch. . . .


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