Our anthem says “we are young”, but Australia is far from free. In fact, according to a recent report by Deutsche Bank, Australia is, for the fourth year running, the world’s most expensive country.
Titled Mapping The World’s Prices, the report measures world currencies against the US dollar. Featuring global comparisons on the prices of goods, ranging from Big Macs to iPhones, the report found that Australians currently pay $1.12 for items that would cost $1.00 in the United States.
When it comes to public transport, Sydney and Melbourne were ranked as the most expensive cities in the world, with New Zealand just behind, paying $1.11 in local currency to the US$1.00.
Unsurprisingly, we were way ahead of most Asian countries, with Japan paying $0.85, China $0.60 and India $0.28 of the equivalent US $1.00.
Do these findings surprise you?
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