The statistic depicts the so-called Big Mac index in 2016. The Big Max index is regarded as an indicator for the purchasing power of an economy. The average price for a Big Mac burger in Canada was 4.60 U.S. dollars in July 2016.
Big Mac Index
The Bic Mac index has been published annually by The Economist since 1986 and is rated as a simplified indicator of a country’s individual purchasing power.
It compares each country’s Big Mac prices, based on the purchasing power parity. As many countries have different currencies, the standardized Big Mac prices are calculated by converting the average national Big Mac prices with the latest exchange rate to U.S. dollars.
The Big Mac, as a top-selling McDonald’s burger, is used for comparison because it is available in almost every country and manufactured in a standardized size, composition and quality. McDonald’s is a worldwide operating fast food restaurant chain with headquarters in Oak Brook, Illinois. Its global revenue amounted to about 28.11 billion U.S. dollars in 2013. Most McDonald restaurants are spread across the United States.