![]() However, this theory can be criticised for ignoring shipping costs, which will vary depending on how far the product is delivered from its "single place" of manufacture in China. ![]() In 2007, an Australian bank tried a variation the Big Mac index, being an " iPod index": since the iPod is manufactured at a single place, the value of iPods should be more consistent globally. For example, in January 2004, it showed a Tall Latte index with the Big Mac replaced by a cup of Starbucks coffee. The Economist sometimes produces variants on the theme. As of April 2009, the Big Mac was trading in Germany at €2.99, which translates into US$3.96, which would imply that the euro was trading above the PPP, with the difference being 10.9%. The Eurozone is mixed, as prices differ widely in the EU area.
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